Prepping for a Spring Move?

If you are thinking about selling or buying this spring, it’s always helpful to know either how much you have to pick from (and where the listings are) or what listings you will compete with for buyer attention.  The charts below give you an idea about where in Leesburg the listings are concentrated right now, as we head into the spring market.

Single Family Home Inventory

[altos_chart st=”VA” cid=”1977167″ zid=”1977166″ rt=”sf” ra=”a” q=”a” left=”median_inventory” size=”i” timeSpan=”e” endDate = “2010-02-26” /]

[altos_chart st=”VA” cid=”1977167″ zid=”1977168″ rt=”sf” ra=”a” q=”a” left=”median_inventory” size=”i” timeSpan=”e” endDate = “2010-02-19” /]

While inventory continues to drop in the 20175 zip code, it has started to rise slightly in 20176.  Low inventory levels cause multiple offer situations on homes (and yes, I’m seeing that happen), so if you are buying, you will need to keep a close eye on listings as they hit the market. Ask your agent for a daily email with all new listings so that you don’t miss an opportunity. From a selling standpoint, there are not very many homes on the market in either zip code (roughly 290 single family homes across all price points in Leesburg!) so if you are ready to go on market now, there aren’t many other listings to compete with.

 

Condo and Townhome Inventory

[altos_chart st=”VA” cid=”1977167″ zid=”1977166″ rt=”mf” ra=”a” q=”a” left=”median_inventory” size=”i” timeSpan=”e” endDate = “2010-02-26” /]

[altos_chart st=”VA” cid=”1977167″ zid=”1977168″ rt=”mf” ra=”a” q=”a” left=”median_inventory” size=”i” timeSpan=”e” endDate = “2010-02-26” /]

The combined condo and townhome inventory, though, shows a distinct difference between the two Leesburg zip codes.  While inventory levels are trending up in 20175, there are still fewer homes on market than in 20176, where levels are dropping. The jump up only accounts for about a 15 home swing in inventory, but may show an increase in listings for the spring market; we will have to keep an eye on it in the coming weeks. The condo/townhome market in 20176 is a larger market, but with the homebuyer tax credit set to expire soon, competition among buyers for available listings is likely to be fierce.

If you would like more specific information about neighborhoods or home types, or just want market advice, please click on the Ask Heather button and reach out to me. You can also sign up for monthly market updates specific to your home and location.

 

Cheers,

Heather

 

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About our blog

Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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