Our Northern Virginia Market continues to show a steady increase in the average sale price. And with the exception of a few isolated markets, the average sales price continues to increase year over year.
However, the Leesburg, VA statistics do not reflect the overall climate of Northern Virginia. While most markets have shown modest gains in sale price along with slight decreases in number of active listings and slight increases days on market, the Leesburg market shows reverses in all trends.
This is probably dictated by the further commuting distance to employment centers, and by the age of the current properties on the market and the true lack of home sales compared to the hot bed of new home sales in the Southern Loudoun markets such as Ashburn, Aldie, and Chantilly.
Let’s look at the Statistics for April:
101 Sales for April, 2011 (Down 18% from 124 Sales in April 2010)
199 Listings for April, 2011 (Down 7% from 214 Listings in April 2010)
Average sales price for April, 2011 was $411,933 (Down 1.5% from the Average of $411,933 in April 2010)
Average days on the market listing to contract for April, 2011 was 80 (Up 36% from 51 days in April 2010)
When you are considering selling your home or purchasing a new home, pick a reputable, well know and well-capitalized company, interview at least 2 qualified agents, and move forward. If you’re purchasing, interests rates are still at all time lows. If you’re selling, join the market while there is still limited inventory and interest rates are still attracting buyers!
Commentary and analysis provided by Jim Agnew, Avery Hess, Realtors, Dulles/Westfields Regional Office
Search for homes in Leesburg, VA and the entire DC Metro:www.averyhess.com