Leesburg, VA Home Sales 2018


Leesburg, VA is a small community on the western side of Loudoun County, VA. It is a community of 49,496. The real estate market is influenced by its eastern neighbors in Ashburn and Sterling, VA. The average Leesburg, VA home sale in 2018 was $530,652. That is consistent across the more eastern communities of Loudoun County.

Leesburg, VA Home Sales: Average Sales Price

Leesburg, VA home sales were down slightly in 2018. The total number of sales was 1,469. The previous year, 2017, was 1591 and 2016 was 1606. The 2017-2018 drop was a whopping 7.7%. The drop from 2016 to 2018 was 8.5%. What’s the cause? It would be hard to speculate at this early stage, but the lack of inventory from mid-2016 to early 2018 is most likely the primary cause.

The good news for Leesburg, VA home sales is the value of homes sold. The average home price did increase in value from year to year for the past three years. In 2016, the average home sale was $491,410. The average sale price climbed 3.6% in 2017 to $508,910, and the average sale price went up again in 2018 to $530,652.

Leesburg, VA Home Sales: Distressed Properties 2018

The Leesburg, VA real estate market has seen a consistent decline in distressed property sales for the past three years. Distressed properties are made up of short sales and foreclosures. In 2018, the total number of distressed properties in the Leesburg, VA home sales were 37, or 2.5%. That was down from 4% in 2017 and 5.5% in 2016. 

Overall, the Leesburg, VA home sales market is strong. Prices are up, distressed properties are down, days on the market have declined, but the nagging number of sales may be worth watching the first quarter of 2019. When you’re ready to buy or sell in the Leesburg, VA real estate market, give Cornerstone Business Group, Inc. a call. We are your local real estate sales pros. 

This post was originally posted at www.cornerstonehomesales.com: Leesburg, VA Home Sales 2018.

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Sterling, VA 2018 Real Estate Market Update

The Sterling, VA 2018 real estate market showed a pull-back in real estate sales from the two previous years. The total number of sales was 1302 compared to 1348 in 2017 and 1346 in 2016. That’s a 3.4% decline in total home sales year to year.

There is good news for home sellers in Sterling, VA. The average sales price climbed another 2.4% from 2017 to 2018. The 2018 average home sale price was $431,727 compared to $421,780 in 2017. The 2016 to 2018 average sales price rose 7.9%.

The biggest change in the Sterling, VA real estate market was seen in the number of distressed properties. Distressed properties are made up of foreclosures and short sales. In 2016, the Sterling, VA real estate market had a 5.5% distressed property rate. The number dropped a little in 2017. The 2017 distressed property sales came in at 3.9%, but 2018 dropped another 50% to 1.7% of total sales. That is a great sign of a healthy market.

The drop in distressed properties is a contributor to higher home values in Sterling, VA. The increase in average sales prices show that, but the decline in total sales is something worth watching. It’s only 3.4% year to year, but it should be monitored.

Overall, Sterling has a steady real estate market. At this stage, there is nothing pointing to a negative change in the current market. When you’re ready to buy or sell in the Sterling, VA real estate market, give Cornerstone Business Group, Inc., a call. We are your local real estate sales pros.

Ashburn, VA 2018 Real Estate Market Review

Ashburn, VA 2018 Real Estate Market Review

The Ashburn, VA 2018 real estate market continues to make gains. Ashburn, VA was labeled as Money Magazine’s #2 place to live for 2018. The 2018 market was up 1.1% in sales volume year to year with 2097 sales. It also had a .5% increase in sales price. The average sales price saw a much bigger price jump from 2016 to 2018 with a 6% increase. Ironically, the volume of sales was down 1% over the same period.

The market has seen a steady growth over the past three years. The 20147, 20148 zip Ashburn, VA 2018 Real Estate Market Reviewcodes which cover Ashburn, VA also include Brambleton and Broadlands. Of the real estate sales in 2018, Ashburn had this highest volume at 1920, followed by Broadlands at 147 and Brambleton with 30.

The number of distressed properties were .8% of total sales in 2018. That is an improvement of over 2% from the 2016 and 2017 markets. The Ashburn, VA real estate market is increasing in sales volume, increasing in sales price and dropping in distressed sales. That’s great news for sellers in Ashburn, Brambleton and Broadlands, VA.

When you’re ready to buy, or sell, in Ashburn, Brambleton or Broadlands, VA, give Cornerstone Business Group, Inc. a call. We are your local real estate sales pros. Let;s get together and make something great happen. Call us today, 540-722-6029.

Current Ashburn, VA Listings – Let’s go shopping! – 540-722-6029

Home-buyers’ Guide to the Home-Buying Process

Home-buyers’ Guide to the Home-Buying Process

Every home-buyer needs a home-buyers’ guide to the home-buying process. Home-buying can be confusing, even for those who have bought in the past. There is a process, and if you follow the process, it can be easy, and you can actually have fun buying your next home.

Home-buying process: Pick a Realtor

The first step in the home-buying process is to find a good Realtor, and let me Home-buyers' Guide to the Home-Buying Processemphasize this, find ONE Realtor. It is not unusual to have a home-buyer call our office to ask if we can show a property. The first thing I ask is, “Are you working with an agent?” Almost every time, the buyer will say, “No,” and then he/she will tell me the appointment needs to be at a certain time because he/she has three showings prior to mine.

If a buyer is looking at three houses prior to looking at one with our office, that tells me there are other agents involved. What buyers may not understand is that real estate agents get paid when they sell and close a home purchase. They don’t get paid to open doors. If a buyer is running three or four Realtors around, most of them will not get paid even though they will spend money and miss other opportunities while helping the client.

Buyers, interview agents prior to choosing one. Find one that will be a good match for your personality, time-frame and is attentive to your needs. Don’t call a dozen offices and drag a dozen agents out into the field. You are legitimately wasting their time and resources when you do that. I’m sure buyers would not want others wasting their time and costing them money with no hope of compensation. It’s not just a courtesy, it’s the right thing to do. If you want an agent to put you first in the home-buying process, be loyal to them and let them do their job to help you.

Home-buying process: Listen to your Realtor

I’ll have to admit, with the advent of the Internet, buyers can be more advanced today than a few decades ago. They can search for homes, financing and learn the how-to’s of home-buying before they ever call an agent.

Even with the benefit of these Internet resources, there is no reason to ignore your agent’s advice. An experienced agent can be your best resource for finding the right home. Your agent is going to do a few things right upfront in the relationship.

One, they are going to ask you to sign an agency agreement. That agreement allows the agent to share things with you that he/she couldn’t do prior to the agreement. It makes the agent your advocate in all things related to your purchase. They’re no longer working for a seller at that point (as long as they are not the listing agent). They are your agent, your advocate and your confidant. That agreement allows them to put your best interest first.

The second thing they are going to ask is that you get pre-approved for a loan. There is no sense in looking at homes if you don’t know what you can spend. That pre-approval letter from a lender is your ticket to buy a home. You need it, and you need it before you start looking at houses. Please don’t assume the agent is prying into your personal affairs when they ask you to get pre-approved prior to looking at homes. This is how the home-buying process works.

Home-buyers' Guide to the Home-Buying ProcessThe third thing they are going to do is help you refine what it is that you want to buy. You need to have a wants, needs and desires list for a home purchase. You may want five bedrooms, three baths on five acres, but your budget may be more like three bedrooms and two baths on a quarter acre. An experienced agent will know that and can steer you in the right direction.

Your agent will know how far your resources will go when buying a home. In this same process, you will narrow down what type of house you buy. You may hate split-foyers, but you love ranchers. That’s good to know right away because there is no sense in an agent setting up an automatic search for you that includes houses you will never look at.

As a part of the wants, needs and desires list, there may be things that get eliminated in the search. Your budget may not allow for a two car garage. That might be a desire and not a need. The budget may not allow for a basement. Here again, that might be a desire and not a need.

You may want a house that has gas heat. That is doable, but it will cut houses that meet your criteria that do not have gas heat. No problem if you understand that. There is always give and take in a home search. Sometimes, you can find a house that has everything on your list, but that is not guaranteed 100% of the time, and that is not the fault of your agent. It is just a fact of life. Of course, you can always build a new home and it can have everything on your list if you can afford it.

Home-buying process: Pick your level of communication

In our 24 hour news cycle and instant gratification society, communication has changed. Unless you turn all of your electronics off at some point everyday, people can get a hold of you. Your phone will be buzzing, your computer will be notifying you that an email awaits or a text continues to ding until you respond.

Not everyone wants to be that connected, but some do. When you find your Realtor, let him/her know how much communication you want and what kind works best for you. My clients span the spectrum of communication. I have many who want texts as soon as something happens, others are good with an email sometime during the day and a few that want a cellphone call. Let your agent know what works for you. They’ll appreciate it and you’ll get the communication you want.

Once you’ve worked your way through these three early stages of the home-buying process, you’re on your way to a great adventure. When you are ready to pick your Realtor, give us a call at Cornerstone Business Group, Inc. We are you neighborhood real estate sales pros.