Leesburg Real Estate Market Statistics – October 2008

Here are the October 2008 statistics for the Leesburg, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). The statistics are broken down by the two Leesburg zip codes, 20175 and 20175.

Leesburg - 20175

The 20175 zip code includes areas such as Greenway Farm, Kincaid Forest, Woodlea Manor and Stratford…

   

The number of new listings in October '08 was slightly higher than in September '08, but slightly lower than in October '07. On a good-to-bad scale, it's about neutral.

The number of properties that sold (went under contract) in October '08 was slightly lower than the previous month, but was higher than the previous year. This is about neutral overall as well.

Leesburg – 20176

The 20176 zip code includes areas such as Potomac Station, Lansdowne, River Creek, Exeter and Sycamore Hill…

 

The number of new listings in October '08 was about the same as in September '08, but significantly lower than in October '07.

The number of properties that sold (went under contract) in October '08 was exactly the same as the previous month, but much higher than the previous year.

With new listings and buyer demand remaining the same as in the previous month, it's about neutral on the bad-to-good scale, but there has been a great improvement year-over-year.

Overall, the Leesburg real estate market is not showing as much of a September-to-October improvement as the Ashburn or Sterling real estate markets, it's continuing to show great year-over-year improvement. 

Leesburg Real Estate Market Statistics (20175, 20176) – September 2008

Here are the September 2008 statistics for the Leesburg real estate market (20175 and 20176 zip codes):

Leesburg – 20175 – September 2008

• New listings = 52. This is a 20 percent decrease in new inventory as compared to September 2007
• Solds (Under Contract) = 36. This is a 45 increase in buyer demand as compared to September 2007

Leesburg – 20176 – September 2008

• New listings = 101. This is 29 percent decrease in new inventory as compared to September 2007
• Solds (Under Contract) = 71. This is a 236 percent increase in buyer demand as compared to September 2007

Though buyer demand increased significantly year-over-year in the 20175 zip code of Ashburn, it really spiked in the 20176 zip code. These statistics confirm what my clients and I have been seeing and feeling while searching for and writing offers on properties - there are less properties to choose from and more buyers fighting for the same property.

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