REAL ESTATE STATISTICS, LEESBURG HOMES FOR SALE 20176 MAY 2013

By
Real Estate Agent with Keller Williams Realty

REAL ESTATE STATISTICS,  LEESBURG HOMES FOR SALE 20176 MAY 2013 CONTINUE TO REFLECT A SELLERS MARKET! 

These statistics are a reflection of May Leesburg Government Center2013 Statistics for 20176  Leesburg, VA Homes for sale. If you would like to see more specific statistics for your area, i.e. a different zip code or a specific price range and geography please click here and make your request.

TOTAL LEESBURG HOME SALES IN MAY

In May 2013 there were a total of 99 homes sold in the 20176 Leesburg zip code. This was  up from 90 in April. Of those sold 8 were condos, 49 were townhomes and 42 were single family  homes. 

AVERAGE LEESBURG HOME PRICES IN MAY

The average price for condos was $217,631 down 12% from April. Average price for Townhomes was $424,317 up 6%  from the previous month. The average Single Family home price was $634,274 up 4% from April. Don't get hung up on the increases or decreases from month to month as the sample size is very small and not statistically significant.

 

AVERAGE DAYS ON THE MARKET FOR LEESBURG  HOMES FOR SALE IN MAY

The great news for all three product type sellers is that this continues to be a sellers market with low inventory and decreasing days on the market. Average Days on the Market for condos  was 173 days in May up from 32 days in  April which was largely due to a condo that had been on the market for 828 days being sold, which completely skewed the results. Overall the days on the market for condos is good;  townhomes  remained steady reflecting 27 days in April to 28 days in May; the Days on the Market for Single Family homes was 54 in April and 51 in May!

 

So just like the AT&T commercial says.....relative to tying a Cheetah on Grandma's Back....Faster is Better Right?..... You Bet!

ABSORPTION RATE STATISTICS FOR LEESBURG HOMES FOR SALE

 

So what is absorption rate? Absorption Rate is how many homes are sold in a given period of time. So if 120 homes sold in theDowntown Leesburg last 12 months, then the absorption rate is 10 homes per month. So why is this important?  It is only through absorption rate that one can define a market in terms of a Sellers Market, Buyers Market or a Balanced or Normal Market.

 

 

WHY IS ABSORPTION RATE IMPORTANT?

Because it determines how quickly homes move on and off the market....and you want to know that right? So you know how long it will take you to sell your home if priced properly, so you can make that move for your job, or buy that move-up home, or be able to predict with some level of certainty how long you have to keep your house clean and have people going through it when you have it for sale.

 

 

 

LEESBURG REAL ESTATE STATISTICS 20176 - ABSORPTION RATES

Okay so the absorption rate for condos is: 106 sold in the last 12 months or 8.8 per month. The absorption rate for Townhomes  is: 331 sold in the last 12 months or 27.6 per month. The absorption rate for Single family detached homes is: 413 sold in last 12 months or 34.4 per month.

 

Ida Lee ParkPUTTING IT ALL TOGETHER!

So to make sense of all this you need to know the current inventory of homes so, as of June 24th  here is the scoop!  There are 19 condos for sale representing 2.2 months of inventory;  47 Townhomes  on the market which represent about a 1.7 months  inventory and  there are 163 single family homes on the market that represent  almost 4.7 months of inventory.

According to the National Association of Realtors:

A Sellers market is defined by 1-4 months of inventory

A Normal Market is defined by 5-6 months of inventory

A buyers Market is defined by 7+ months of inventory

 

WE ARE IN A SELLERS MARKET WITH A SEVERE SHORTAGE OF INVENTORY!

PLEASE GIVE US A CALL IF YOU KNOW ANYONE INTERESTED IN SELLING A HOME RIGHT NOW!

 

 

CLICK HERE IF YOU WANT FREE HOME VALUATION PACKAGE

CLICK HERE FOR HOMES FOR SALE IN 20176 LEESBURG!

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CLICK HERE TO SEE GREAT STUFF ABOUT LEESBURG

 

 That's about it for now for Leesburg Homes for Sale Real Estate Statistics for May. See you next month! 

 

 

 

 

 

 

 

 

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Thanks for sharing this with your networks!

Dan Ritchey, Realtor

Keller Williams Realty Loudoun Gateway

20130 Lakeview Center Plaza, Suite 110

Ashburn, VA 20147

www.RitcheyREsources.com

 

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