Market Indicators Report
Key Market Trends
Following a slowdown last month, home sales in the Loudoun County were up modestly in August compared to last year.
There were 811 sales across Loudoun County in August, a 3.7% increase from last year, which is a gain of 29 sales. Most of the additional sales this month occurred in Ashburn zip code 20147 (+28.3%) and Sterling zip code 20164 (+23.6%). Leesburg zip code 20176 had the sharpest slowdown in sales (-18.6%). Overall, sales activity in the county dipped a little from July (-5.3%), which reflects typical seasonal market patterns.
Pending sales were sluggish compared to last year.
For the 2nd month in a row, there were fewer pending sales in Loudoun County compared to a year ago. There were 751 pending sales in the county in August, 99 fewer than last year (-11.6%). The slowdown is partially attributable to the surge in pending sales activity last summer; however, it could also signal that a cooldown is underway in some local markets. The sharpest drop in pending sales this month occurred in Aldie zip code 20105 (-42.0%) and Purcellville zip code 20132 (-39.6%).
Home price growth continues to be robust across the county.
The median sales price in August in Loudoun County was $615,000, up 9.8% from last year, which is again of $55,000. The strongest price growth this month occurred in Lovettsville zip code 20180 (+35.1%) and Purcellville zip code 20132 (+21.1%).
Inventory of active listings higher than last August; first supply bump in 22 months
There were 485 active listings in Loudoun County at the end of August, 5 more listings than last year, which is a 1% increase. While it was a modest supply gain, it is notable because it is the first time the inventory has expanded in the county’s housing market since the fall of 2019. The supply gains could be brief; new listings were down 6.0% this month compared to last August.