Local Realtors say the Leesburg, Virginia, housing market is rising in price, and the homes selling the most quickly are condominiums and townhomes.
"The Leesburg market continues to grow rapidly with new homes and town homes, many new schools and shopping from outlet malls to quaint country shops," says Realtor Kathy Devany. "The Northern Virginia market continues to be a healthy seller's market. If you are new to the area, here are a few statistics which will guide you in your search. Since July 1st, Loudoun County sales have continued to move quickly. In Ashburn, Centerville, Leesburg and Sterling, 24 single family homes sold at an average price of $568,182 in four days, along with 20 town homes at an average price of $424,997 and 11 condominiums at an average price of $328,291."
Says Realtor Glenda Cherry, "Founded in 1758, Leesburg is the seat of government for Loudoun County, the fastest growing county in the country, Located at the foothills of the Blue Ridge Mountains, Leesburg offers scenic views and three centuries of history while only minutes from Dulles International Airport."
Cherry says, "With 169 residential sales in Leesburg closed during the month of July 2005, (down from 248 sales closed in June), sales ranged in price from $169,000 to $2,000,000. The average list price was $583,841 (up from $561,025 in June) and the average net sales price (less seller concessions) was $581,691 (up from $558,176 in June). The number of days on market ranged from 0 to 185 and average number days on market was 19 (up from 17 in June)."
"The sharp decrease in the number of sales is more than likely due to the traditional summer slump,'' says Cherry. "The market will probably become more active as we enter the fall. However, it's interesting to note that the average net sales price is now slightly lower than the average list price. This would indicate that the market is beginning to correct itself somewhat even while remaining a strong seller's market."
"The real estate market remains robust as supply remains to out grow the demand for new housing," says Realtor Shirley Chambers. "Low interest rates continue to be a factor also in maintaining a healthy real estate market. Home prices continue to escalate as a result of multiple offers. Condominiums and town homes usually realize the quickest sales. However, home price and condition are still major factors in obtaining a quick sale at the highest price possible."
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Published: August 11, 2005
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