Ending the 3rd Quarter, the Leesburg Market has seen a resurgence of the average sales price, up nearly 16% over September of last year.
2010 saw this market hit extremely hard with foreclosures. Many of these homes had been totally abandoned and sat vacant for months at a time. With the decrease in the number of homes on the market in substandard conditions the average sales price has recovered very nicely.
Let’s look at the statistics for zip codes 20175 and 20176:
|September 2010||September 2011||% change|
|Avg. Sales Price||$413,245||$443,785||13.5%|
|Total Unit sales||98||85||-13%|
All indications show that the Leesburg market will continue to enjoy a steady increase in value. While Loudoun County has seen a slight decline in the average sales of $405,895 year over year, this is a refreshing highlight for the Leesburg Market, hit so hard by the distress property sales of last year.
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