Lansdowne on the Potomac Market Report for Home Sales October 2012

It is hard to believe that October is over and we are quickly approaching the holiday season. Lansdowne on the Potomac continues to be a fairly stable real estate market. Over all we have seen inventories for single family homes increase steadily this month and town house inventories stay flat. For this home sale report for Lansdowne we will separate Single Family Homes for Town Homes as it was definitely two different markets. First we will look at Single Family Homes for Sale and Sold in the month of October.

Lansdowne Single Family Homes Sales Slip

Lansdowne on the Potomac Single Family Homes for Sale

There were three single family homes sold in the month of October compared to seven in the month of September in Lansdowne on the Potomac. Below is how the sales break down.

October                       September

Total Units                                                3                                  7
Average Sold Price                               $665,000                 $706,000
Average Days on Market                    31                                32
Average Seller Subsidy                       $0                                $5000
Average Net Sales Price                     $665,000                 $701,429

The number of single family homes for sale in Lansdowne has seen a steady increase with 22 active listings on the market with an average day on market of 59. This trend has continued through the month of October. There are however currently 12 single family homes under contract and pending closing. This would indicate that the current market, even though October sales were down from September, is remaining fairly stable for single family homes in Lansdowne on the Potomac and I would expect closed sales for November to beat the weak numbers for October. The current average asking price for a single family home in Lansdowne is $730,000.

Lansdowne Town House Sales Tick Up

Lansdowne on the Potomac Town Houses for Sale

There were a total of five Lansdowne on the Potomac Town Houses that sold in the month of October compared to three for the month of September. Here is how the town houses sold break down.

October                       September

Total Units                                                  5                                   3
Average Sold Price                                 $479,800                  $518,667
Average Days on the Market              54                                  35
Average Seller Subsidy                         $1,800                        $3,700
Average Net Sales Price                       $478,000                  $514,967

The number of town houses for sale in Lansdowne on the Potomac has steady this month with 11 active listings on the market with an average days on market of 60. This trend has continued through the month of October. There are however, currently 4 town houses under contract and pending closing. This would indicate that the current market, even though October sales were flat from September, is remaining very stable as well for town houses in Lansdowne on the Potomac. I would expect closed sales for November to beat or equal the numbers for October. The current average asking price for a town house in Lansdowne on the Potomac is $449,754.

Lansdowne on the Potomac like most of the area seems to be slowing down when compared to the busy summer selling season we had. Some of this could be due to the regular seasonal changes in the market as people go back to school and the holidays begin to approach. It is apparent that as with the rest of the Loudoun County housing market the higher price ranges in Lansdowne on the Potomac are still struggling while the mid to lower price ranges continue to be strong. I would expect this to continue for the near future.

Lansdowne on the Potomac is one of the premier communities in Loudoun County consisting of 2155 homes, 1422 single family and 713 town homes. The development boasts the 30,000 square foot Potomac Club and the Lansdowne on the Potomac Resort and Golf Club. The community is located north of Leesburg Pike prior to Leesburg and is bordered by the Potomac River and Goose Creek

For more information on Lansdowne on the Potomac homes please call us at 703-831-7653 or visit www.loudouncountylivingllc.com.

About Barry

Keller Williams Reston/Herndon
11700 Plaza America Drive
Reston VA 20192
Keller Williams Leesburg
50 Catoctin Circle NE #101
Leesburg VA 20176
Licensed in Virginia

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