Is Leesburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Leesburg has remained a Seller's Market.
Key Takeaway
Leesburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Leesburg, VA
How much do homes in Leesburg, VA cost?
Median Sold Price
$738,091
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Leesburg have sold for 16.6% more than they did a year ago.
Summary: The median home sold price in Leesburg was $738,091 in May 2024, up 16.6% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278K | $287.5K | +3.4% |
| 2 Bedrooms | $352.4K | $375K | +6.4% |
| 3 Bedrooms | $550K | $611.5K | +11.2% |
| 4 Bedrooms | $825K | $866K | +5.0% |
| 5+ Bedrooms | $970K | $1.1M | +20.1% |
Summary: Leesburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 20.1%.
Median Sold Price Compared To Nearby Cities
| Leesburg | $633K | $738K | +16.6% |
| Catoctin | $795.7K | $820K | +3.1% |
Housing Supply in Leesburg, VA
How many homes are available in Leesburg, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 267 | 326 | +22.1% |
Summary: The Leesburg real estate market had 326 homes for sale in May 2024, a 22.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 43 | 52 | +20.9% |
| 3 Bedrooms | 71 | 85 | +19.7% |
| 4 Bedrooms | 80 | 91 | +13.8% |
| 5+ Bedrooms | 69 | 92 | +33.3% |
Summary: The Leesburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 20.9%, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 89 | 61 | -31.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leesburg, you could pay more than the asking price. 63.9% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Leesburg in May 2024, down by 31.5% month-over-month. Of the 61 sold homes, 21% were sold under asking, 15% were sold at asking, and 64% were sold over asking.
Days on Market for Leesburg, VA
How long does it take to sell a home in Leesburg, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 15 Days | -16.5% |
Summary: Homes in Leesburg had an average of 15 days on market in May 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Leesburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 61 homes were sold in Leesburg; 90% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
