January 2022: Market Indicators Report
Key Market Trends
Sales slowdown underway in the Loudoun County housing market, largest drop in years.
There were 293 sales in Loudoun County in January, a 33.4% decline from a year ago, which is 147 fewer sales. Sales activity has been moderating in the county since September of 2021, but this is by far the largest year-over-year decline. Slower sales reflect both the unusually busy January last year, as well as a lack of inventory. Nearly all local markets in the county had fewer sales in January compared to last year. The sharpest declines were in Leesburg zip code 20176 (-49.1%), Chantilly zip code 20152 (-48.6%), and Ashburn zip code 20147 (-37.5%).
Pending sales are way down compared to a year ago in the Loudoun County market.
There were 380 pending sales in Loudoun County in January, 110 fewer pending sales than a year ago, which is a 22.4% drop in activity. Nearly all local markets had fewer pending sales this month. The sharpest slowdowns were in Chantilly zip code 20152 (-61.1%), Aldie zip code 20105 (-32.4%), and Sterling zip code 20164 (-24.5%).
While home sales activity slowed prices continue to rise.
The January median sales price in Loudoun County was $590,000, up 6.3% from a year ago, a gain of $35,000. The strongest median price growth this month was in Leesburg zip code 20175 (+43.6%), Purcellville zip code 20132 (+21.1%), and Ashburn zip code 20147 (+18.4%).
Fewer new listings are coming in the market in Loudoun County as inventory tightens.
There were only 161 active listings in Loudoun County at the end of January, a 14.4% reduction from last year, which is 27 fewer active listings. There were 440 new listings in the county in January, 95 fewer than last year (-17.8%).