2019 Loudoun County Monthly Sales Statistics
While Loudoun County, VA homes for sale inventory continues to hover near historical lows, the decline in year-over-year number of active listings was notably smaller than in previous months. Active listings from May 2018 to May 2019 declined by 5.7% which was the smallest year-over-year decline since June 2015. June 2015 was also the month/year that the cycle of inventory tightening began.
The notable small decline in active listings was primarily the result of an increase in active condo listings. The number of active condo listings in Loudoun County has increased by 16.8% year-over-year while the number of townhome and single family home listings actually declined during the same period.
Tight inventory was the most probable underlying cause of the decrease of new pending sales to 2.1% from the same month in the prior year.
The good news is that through May, 2019, the homes on the market commanded nearly full asking price. The median days on market decreased from 35 days in May 2018 to just 13 days in May 2019. That said, we did see some softening and longer days on market in the upper price ranges this summer. Stats for June have not been released yet and will be interesting to see.
Check out the table below for 2019 Loudoun County Monthly Sales Statistics.
|2019 Loudoun County Monthly Sales Statistics|
|Month||Residential Units Sold||Average Sales Price||Median Price||Average Days on Market||Active Listings||New Listings This Month||New Pendings This Month||Average S/P as a Percentage of L/P|
|Metropolitan Regional Information Systems, Inc. :: Last Updated on 6/6/19
Note that the methodology for calculating Days-On-Market (DOM) changed and was not available for October 2018. The numbers used since November 2018 have been restated according to the new methodology. The DOM data is not comparable to data issued before November 2018.
If you or someone you know has a question about something real estate related, contact Sonja Adams at SonjaAdams@kw.com