February 2017 Loudoun County Market Trends Report: Homes Selling Faster as Active Inventory Continues to Decline
The following analysis of the Loudoun County, Virginia housing market has been prepared by George Mason University’s Center for Regional Analysis. It was prepared for the Dulles Area Association of REALTORS® by analyzing MRIS multiple listing data from MarketStats by ShowingTime.
Overview
- Homes in Loudoun County sold significantly faster than last year, with half of the February sales being listed for 17 days or less, down 70 percent from February 2016’s total of 58. This is the largest monthly annualized change since 2009.
- After a 12-year low in January, inventory decline eased slightly. However, active inventory at the end of February was 22.2 percent lower than the same point last year. This left 1,067 homes for sale at the end of the month.
- New listing activity increased relative to last year; 726 homes were added in February, up 21.7 percent from February 2016.
- Loudoun County home sellers received an average 98.2 percent of original list price in February, 1.6 percentage points more than last year and the highest February mark in the last decade.
- Loudoun County’s median sales price increased modestly in February, climbing 2.0 percent on an annualized basis to $423,250. This marks a 34 percent appreciation versus the $315,000 low of April 2009.
- Closed sales are nearly identical to last month, but down 2.8 percent over February 2016.