Leesburg, VA Market Report – 1/9/13

09 Jan
January 9, 2013

Wow, what a difference a year makes.  When we last visited the Leesburg market it was just beginning to come out of the foreclosure/short sale market.  We now see that there was a strong market during the 4th quarter of 2012.  Average sales price is up 10.5% over a year ago, total sales are up 20% and pending sales are up 11%.

November 2011 November 2012 % change
Avg. Sales Price $420,821 $464,999 10.5%
Avg. DOM 83 55 -33%
Total Unit sales 75 93 20%
Active listings 369 184 -15%
Pending Sales 163 184 11%

Northern Virginia is enjoying the lowest inventory in the past 5 years, coupled with the continuance of the historic lowest interest rates and lowest unemployment of any major market in the country, I expect this trend to continue and grow through Spring and Summer.

Now is the time to sell and move up or downsize.  Whatever your motivation, be sure you interview at least 2 qualified Realtors.  When considering Realtors, be sure to compare their individual accomplishments as well as those of their Company.  Avery Hess would appreciate being included in this process!

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Avery Hess, Realtors, Dulles/Westfields Regional Office
Search for homes in Leesburg, VA and the entire DC Metro:www.averyhess.com

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