REAL ESTATE STATISTICS, LEESBURG HOMES FOR SALE 20175 JUNE 2013 CONTINUE TO REFLECT A SELLERS MARKET!
These statistics are a reflection of June 2013 Statistics for 20175 Leesburg 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 20175 IN JUNE
In June 2013 there were a total of 62 homes sold in the 20175 Leesburg zip code. This was up from 49 in May. Of those sold 14 were condos, 18 were townhomes and 30 were single family homes.
AVERAGE LEESBURG HOME PRICES IN JUNE
The average price for condos was $198,992 up from May. Average price for Townhomes was $335,916 also up from the previous month. The average Single Family home price was $597,432 down from May. 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 20175 IN JUNE
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 26 days in June down from 34 days in May. Townhome Days on the Market fell to 21 days down from 30 days in May; the Days on the Market for Single family homes was 49 days in June, down from 74 days in May.
Don't you love the commercial with the camel walking around the office asking what day it is! Too Funny!
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 the 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 20175 - ABSORPTION RATES
Okay so the absorption rate for condos is: 113 sold in the last 12 months or 9.4 per month. The absorption rate for Townhomes is: 165 sold in the last 12 months or 13.8 per month. The absorption rate for Single family detached homes is: 312 sold in last 12 months or 26 per month.
So to make sense of all this you need to know the current inventory of homes so, as of July 15th here is the scoop! There are 9 condos for sale representing about one month of inventory; 15 Townhomes on the market which represent about one month of inventory and there are 95 single family homes on the market that represent almost 3.7 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!
That's about it for now for Leesburg Homes for Sale 20175 Real Estate Statistics for June. See you next month!