When I start to look at real estate statistics in different parts of Loudoun County, I’m usually pretty confident about the types of trends I will see. Take a look below at the difference between the two zip codes in Leesburg, when comparing median price per square foot of homes. Why are condos and townhomes are more expensive than single family homes per square foot in the 20176 zip code, and less expensive in the 20175 zip? Looks like the price per square foot has fluctuated more for single family homes in 20176 than anywhere else, perhaps hit harder by foreclosures and short sales?
The median price per square foot for condos and townhomes in 20175 have made a fantastic recovery since the summer of ’09, climbing from below $130 a square foot to close to $150 now. That’s quite a difference in price! I am also very surprised to see that single family homes in 20175 have a higher median price per square foot than those in 20176, which is usually newer (and more expensive) homes.
Questions about how this relates to your home or neighborhood? Just ask.