Loudoun County Market Report April 2021
Posted by The Kristen Roberts Team Your Home Sold GUARANTEED! on Thursday, May 13, 2021 at 11:41 AM
By The Kristen Roberts Team Your Home Sold GUARANTEED! / May 13, 2021
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Key Market Takeaways
Economic Conditions
- In the first quarter of 2021, the pace of economic growth both statewide and in Loudoun County have slowed somewhat. However, consumer spending and job growth likely will accelerate this spring.
- Consumers’ confidence about present and future economic conditions improved in March.
- Mortgage rates ticked up slightly in the first quarter of 2021, although it is likely that rates will stabilize and remain low for the rest of 2021.
Housing Market Conditions
- Sales activity continues to expand in the Loudon County housing market. There were 1,490 sales in the county during the first quarter, up 22% from a year ago.
- The first quarter median sales price in Loudoun County was $575,000, which is 12% higher than last year, a gain of more than $62,000.
- The inventory of homes available remains tight in the county. There were 235 active listings at the end of the first quarter in Loudoun County, falling 67% from this time last year.
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