Sweating Over Home Values?

It may be over 100 degrees outside, but home prices seem to be cooling…

Halfway through 2010, and where does the real estate market stand in Leesburg? From the perspective of median price, it depends entirely on your home type and zip code.  In the 20175 zip, both single family homes and condo/townhome median price dropped roughly 10% since the start of the year (despite some seasonal up and down activity this spring.)  However, in the 20176 zip code, single family home median price is right where it started the year, while condo/townhome median price is up roughly 10%.  Although we saw some volatility in April, pricing has been mostly stable for the last year.  Inventory is up right now over prior levels, though, so we may see some downward adjustment in pricing until that settles down again.

Cheers,

Heather

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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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