703-963-7407 SonjaAdams@kw.com
2019 Loudoun County Monthly Sales Statistics

2019 Loudoun County Monthly Sales Statistics

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
January 286 $536,909 $495,000 67 727 477 403 98.4%
February 292 $517,858 $468,750 80 787 678 506 98.6%
March 509 $526,471 $471,000 53 861 908 734 98.9%
April 562 $531,283 $505,000 35 970 979 793 99.1%
May 742 $528,837 $499,000 30 1,145 1,081 802 99.5%
June
July
August
September
October
November
December
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

Loudoun County, VA Real Estate Market Report – June 2018

Loudoun County, VA Real Estate Market Report – June 2018

Here’s a look at the Loudoun County Real Estate Market for June 2018.  According to a report released by the Dulles Area Association of Realtors (DAAR), Loudoun reached their highest monthly median sales value on record.  Also, housing listings declined for the 36th month in a row.  Let’s take a closer look the Loudoun County real estate market trends.

Housing Stats for June

Loudoun County’s median home price reached $500,000 which is the highest value on record.  This occurred amidst the lowest recorded June inventory in over a decade.  Inventory was 22.2% lower this June compared to June 2017 which left only 1207 homes for sale at month end and only a 2.2 months housing supply.  New listing activity decreased as well and was down 13.8% compared to last year in June 2017.

Condos led the growth, climbing by 37.9% from June 2017! This growth equated to the highest recorded number of condos sold in a month at a whopping 131 sales. Condo prices have increased by 14.8% compared to last June which makes the average price for a condo $310,000.

Both townhome and single family detached homes rose by 5.6 and 5.8% from June 2017 to $442,000 and $640,000 respectively.  Both townhomes and single family detached homes reached their highest median sales price on record.

Half of June’s listings were under contract in 9 days or less and sellers on average received 98.8% of their original list price. Loudoun closed 839 homes in June which was 105 more homes than in May.

Townhomes and condos have the tightest inventory with only a 1.4 and 1.5 months supply available.  The supply of single family homes increased to 2.9 months at the end of June.  Home sellers on average received 98.8% of their list price.

What does this mean if you’re buying a house in Loudoun County, VA?

With the rising median sales price and low inventory, it is more important than ever for a potential home buyer to have a firm idea of how much home they can afford.  It’s also important to have met with a mortgage loan officer to get your loan process started so you can compete with other home buyers who are bidding on your dream home.  We are still seeing multiple offers on homes, especially in the condo or townhome market.  We also recommend that you sign up to receive email notifications on homes as they come on the market or to work with us to find you a home before it is active on the market.

What does this mean if you’re selling a house in Loudoun County, VA?

This is a great time to sell!  Why? The inventory remains low, which means potential home buyers are looking for new listings coming on the market.  With the home prices rising, there is a good chance you will sell your home quickly with an appealing offer.  You will want to know what your home is worth, so sign up for our free home valuation offer.

50% of homes in Loudoun are selling in less that 9 days for 98.8% of the original list price.

If you are looking to buy or sell a home in Loudoun County, VA, call Sonja Adams at 703-963-7407 or reach out via email at SonjaAdams@kw.com

Housing Market Update – Winter 2018

Housing Market Update – Winter 2018

Spring is often thought to be the best time to sell homes, but its not too early to start considering your strategy for the current market. The supply of available housing is very low making the time ripe to sell your home quickly. The homes which are on the market now are seeing high volumes of buyer traffic due to the low inventory.  Historically, the market starts to pick up at the beginning of the year.

We could see a very favorable start to the new year based on the housing statistics in Loudoun County last year.  The average home price in Loudoun rose to $506,051 which is a 4.62% increase from 2016.  In addition the average days on market decreased by a whopping -21.57% to only 40 days on market.  This is fantastic news for sellers!  Contact me for a complete list of homes sales similar to your home and a free market analysis.

For buyers, the mortgage rates are still historically low making it a good time to buy your first home or to move up.  I’ll be happy to send you available properties as soon as they become available as well as updates to homes currently on the market.  Contact me for your free list.

Feel free to contact me for any of your real estate needs or questions.  You are under no obligation. I am happy to help you! You can reach me at 703-963-7407 or via email at SonjaAdams@kw.com

Sonja Adams
50 Catoctin Circle, NE
Leesburg, VA 20176
703-963-7407