Wow, what a difference a year makes.Â When we last visited the Leesburg market it was just beginning to come out of the foreclosure/short sale market.Â We now see that there was a strong market during the 4th quarter of 2012.Â 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%|
|Total Unit sales||75||93||20%|
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.Â