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Rich Blessing is the president of the Dulles Area Association of Realtors. "Our February market statistics continue to reflect the low inventory in Loudoun County and the subsequent effects on the housing market," Blessing said. "As the historically low inventory is driving up prices dramatically, rising mortgage rates could also create challenges for buyers who want to purchase a home."
The total number of active inventory this November was 507 compared to 298 in November 2021. This month's total of 507 is lower than the previous month's total supply of available inventory of 652, a decrease of 22%. ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies.
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Loudoun County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Low vacancy rates are an indication that supply is not keeping up with demand. Enhanced Cost of Living CalculatorNow includes childcare, taxes, health, housing for home owners vs renters, insurance costs and more when you upgrade to premium.
Reducing housing costs in expensive, supply-constrained metro areas will require sustained periods of increased housing production across multiple jurisdictions. Homes for sale in Loudoun County, VA have a median listing home price of $665,450. There are 881 active homes for sale in Loudoun County, VA, which spend an average of 48 days on the market. Some of the hottest neighborhoods near Loudoun County, VA are Capitol Hill, Columbia Heights, Ashburn Village, Petworth, Ashburn Farm. Meanwhile, the price of homes in Loudoun County continues to rise. The median sale price grew 7.4 percent, or $43,000, from February 2021's levels.
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Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. The low inventory of homes for sale in Loudoun was reflected in the 336 active listings at the end of November, a 61.2-percent reduction from last year. New listings are trending upward but not enough to make up for the historically tight inventory, the report said.
Housing market conditions can vary across submarkets within counties. These policy recommendations are based on an assessment of overall county-level housing metrics. Larger counties often have multiple distinct submarkets with varying affordability, physical quality, infrastructure availability, and development regulations. Lower-cost communities tend to have older, poorer quality housing.
Asking Price vs. Sold Price
The average sale price per square foot in Loudoun County is $250, up 1.6% since last year. The Realtors association recorded 655 active listings at the end of June, a 67 percent increase over the end of June 2021. The active listings included 51 homes in Leesburg's zip code.
We have seen the numbers for New Listings and New Pending Sales increase month to month, however these numbers continue to be down significantly when compared to last year at this time. The numbers of closed sales have increased when compared to yearly and monthly numbers. Housing is expensive because supply has not kept up with demand. High prices and rents, combined with low vacancy rates, indicate that there is unmet demand for housing. It is important to realize that no single county can produce enough housing to meet demand for the entire metro area.
What homes are available in Loudoun County, VA?
Many homes in Loudoun County are selling fast, if you're buying plan to act quickly. Click on the risks below to learn which exist in Loudoun County today and how they’ll change by 2050. Flood risk in Loudoun County is increasing slower than the national average. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
The total number of sales decreased by 256, a 26.7 percent decline over June 2021's market levels. Some of Loudoun's more rural zip codes had the largest price increases when compared to June 2021. Lovettsville's median home price grew by 11 percent while Purcellville's grew by 12.7 percent, according to the report. In June 2022, the median home price in Loudoun County was $695,000. The median price increased by 5 percent over June 2021 levels.
There is just one week’s worth of inventory on the market in Loudoun, according to listing service Bright MLS. And last month sellers got an average of 102% of list price. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
In November, the average sale price in Loudoun County was 99.0% of the average list price, which is 2.3% lower than at this time last year. The median price of homes sold in Loudoun County in November saw its largest price gain in more than five years, according to the Dulles Area Association of Realtors’ November market trends report. Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. The average sale price of a home in Loudoun County was $645K last month, up 7.5% since last year.
Current inventory levels in Loudoun County are down over 11% when compared to March 2012. This is certainly having an effect on the average price of a home in Loudoun County as supply and demand is the most important factor effecting home sales. The downward trend for inventory has continued for some time now. With the approach of the spring market inventory levels should increase seasonally as expected however levels are still significantly off the mark from where inventory was a year ago.
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