As reported by the Dulles Area Realtors Association:
“Surging home sales continue in Loudoun County for the 5th consecutive month.
There were 649 sales in the County in November, a 38.1% jump from last year, which is 179 more sales. Sales growth was very strong in Leesburg (zip code 20176) and Chantilly (zip code 20152) in November, more than doubling from last year, up 115.0% and 138.5%, respectively.”
This kind of strong growth in pending sales in November could be a signal for a busy real estate market in Loudoun County in the winter ahead. Pending sales increase by 41.7% from a year ago in November 2019. Pending sales of townhomes and condos had the largest influx in pending sales (74.3% increase) in more than 5 years.
In addition, the median sales price in Loudoun rose 13.6% from last year to $560,000. This growth in price occurred in all markets and reflects the really tight supply of available homes. The current inventory of homes is only 1/2 month supply. There were 336 active listings in November which was a reduction of 61.2% from last year. New listings are trending upward, however, not enough to alleviate the low inventory.