Is Leesburg, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Leesburg is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Leesburg was a Buyer's Market.

Key Takeaway

Leesburg is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Leesburg, VA

How much do homes in Leesburg, VA cost?

Median Sold Price

$721,000

$258/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$145,300(+25.2%)

Key Takeaway

Homes in Leesburg have sold for 25.2% more than they did a year ago.

Summary: The median home sold price in Leesburg was $721,000 in January 2024, up 25.2% from last year, and the median price per square foot was $258.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $270K$287.5K
+6.5%
2 $321.5K$365.7K
+13.7%
3 $530K$599.4K
+13.1%
4 $774.9K$850K
+9.7%
5+ $865K$1.1M
+27.2%

Summary: Leesburg housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 27.2%.

Median Sold Price Compared To Nearby Cities

Leesburg
+25.2%
Catoctin
+4.1%

Housing Supply in Leesburg, VA

How many homes are available in Leesburg, VA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
314323+2.9%

Summary: The Leesburg real estate market had 323 homes for sale in January 2024, a 2.9% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 95
-44.4%
2 3742
+13.5%
3 7779
+2.6%
4 99105
+6.1%
5+ 9292
0.0%

Summary: The Leesburg housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 44.4%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
6050-16.7%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Leesburg, expect to pay close to the asking price. 42% of homes here sold near the asking price last month.

Summary: A total of 50 homes were sold or pending in Leesburg in January 2024, down by 16.7% month-over-month. Of the 50 sold homes, 36% were sold under asking, 42% were sold at asking, and 22% 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

Jan 2023Jan 2024CHANGE
22 Days23 Days+1.0%

Summary: Homes in Leesburg had an average of 23 days on market in Jan 2024, up by 1% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Leesburg are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 50 homes were sold in Leesburg; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Leesburg, VA

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