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.

Related Articles

Sterling Real Estate Market Statistics (20164, 20165, 20166) - September 2008

Ashburn Real Estate Market Statistics (20147, 20148) - September 2008

No "Summer Slump" For Loudoun County Real Estate In 2008

Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007

Loudoun Real Estate Inventory Levels Well Below National Average

Leesburg Real Estate Market Match-Up: 20175 vs 20176

We’ve already determined the winners of the real estate market match-ups in Sterling and Ashburn, but we have yet to find out who the winner is in Leesburg. On one side of Leesburg, we have 20175. On the other, we have 20176. Just like we did in Sterling and Ashburn, we’ll be taking a look at inventory/supply and buyer demand.

And they’re off…

20175 zip code:

• The number of new listings that came on the market in 2008 (1/1-6/9) was 393 versus 441 during the same period 2007. That’s a decrease of 11 percent.
• The number of homes that sold in 2008 (1/1-6/9) was 156 versus 224 during the same period in 2007. That’s a decrease of 30 percent.

20176 zip code:

• The number of new listings that came on the market in 2008 (1/1-6/9) was 777 versus 851 during the same period 2007. That’s a decrease of 9 percent.
• The number of homes that sold in 2008 (1/1-6/9) was 384 versus 365 during the same period in 2007. That’s an increase of 5 percent.

Though the 20175 zip code had a decrease of 11 percent in inventory, buyer demand was down a whopping 30 percent.

On the other hand, the 20176 zip code saw a decrease of 9 percent in inventory while buyer demand was up 5 percent.

So who gets to hold the checkered flag?

Although 20175 had the greatest decrease in inventory, 20176 had a huge advantage when it came to buyer demand. Therefore, 20176 is the official winner of the June ‘08 Leesburg real estate market match-up.

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Related Posts:

20148 Beats 20147 In Ashburn Real Estate Market Conditions Bout

Loudoun County Real Estate Inventory Down, Buyer Demand Up

Loudoun County Buyer Demand Up 19 Percent In May