Sunday, January 08, 2006

Townhouse in Leesburg, VA

For 489.9K you can buy this spacious townhouse in Leesburg, VA.

"OPEN SUN 1/8 1-4:30 PM!!STUNNING 3 LVL TH RIGHT OUT OF THE PAGES OF A POTTERY BARN CATALOG! Three Bedroom, 2 Full Baths, 2 Half Baths. Sunfilled Main Level boasts custom paint,custom window treatments, molding & palladium windows *Roomy kitchen has HWs,island* Cozy Family room & Bfast room off kitchen leading to private deck* Expansive Master W/ vaulted Ceilings, His/Hers walk-in closets, linen closet, large soaking tub."

Craigslist Listing

The townhouse was built very recently. However, the townhouse is located all the way in Leesburg, VA which is about 35 miles from downtown Washington, DC. There are many jobs in much nearer suburbs. Traffic is pretty bad heading from far out bedroom communities like Leesburg, VA towards job centers in closer in suburbs located along the Dulles Corridor.

Will the townhouse sell at 489k?


Probably not. Despite being a large recently constructed townhouse, one is still paying 489K for a townhouse located in the way outer suburbs. There is a huge amount of inventory out in that area that is for the most part just sitting.

On the left the graphs show the inventory and sales trend in Loudoun County, VA ( Leesburg is a part of) for SFH. Tumbling sales and growing inventory is the story in the far western suburb of Washington, DC. ( the graph is from the Northern Virginia Association of Realtors )