REAL ESTATE STATISTICS LEESBURG HOMES FOR SALE 20176 SEPTEMBER 2013 CONTINUE TO REFLECT A SELLERS MARKET!
These statistics are a reflection of September 2013 Statistics for 20176 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 SEPTEMBER
In September 2013 there were a total of 64 homes sold in the 20176 Leesburg zip code. This was down from 99 in August. Of those sold 12 were condos, 22 were townhomes and 30 were single family homes.
AVERAGE LEESBURG HOME PRICES IN SEPTEMBER
The average price for condos was $268,942 up 17% from August. Average price for Townhomes was $373,025 down 9% from the previous month. The average Single Family home price was $614,344 down about 2% from August. 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 SEPTEMBER
The great news for all three product types is that this continues to be a sellers market with low inventory and relatively low days on the market. Average Days on the Market for condos was 24 days in September down from 63 days in August. Townhome Days on the Market was 22 days in September down from 31 days in August; the Days on the Market for Single Family homes increased from 43 in August to 49 in September!
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 20176 - ABSORPTION RATES
Okay so the absorption rate for condos is: 119 sold in the last 12 months or 9.9 per month. The absorption rate for Townhomes is: 353 sold in the last 12 months or 29.4 per month. The absorption rate for Single family detached homes is: 451 sold in last 12 months or 37.6 per month.
So to make sense of all this you need to know the current inventory of homes so, as of October 9th here is the scoop! There are 17 condos for sale representing 1.7 months of inventory; 65 Townhomes on the market which represent about 2.2 months inventory and there are 131 single family homes on the market that represent almost 3.5 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 Real Estate Statistics for September. See you next month!