February 2019 Loudoun County Market Trends Report: Loudoun County Housing Market Remains Tight, May Ease


Overview

  • The number of active listings in Loudoun County in February was the fewest February active listings in over a decade.
  • As compared with data from January, however, there is some indication that the market may ease. Active listings increased from February 2018 to February 2019 in three of the eight zip codes analyzed. Furthermore, there was an increased in the number of active listings of townhomes in Loudoun County over the same period.
  • As another possible sign the tight market may begin to ease, the number of new listings in Loudoun County increased from February 2018 to February 2019. Despite the modest size of the increase (4 units), any increase is notable.
  • Despite the possibility of near-term easing, the number of closed sales continued to decline. The number of closed sales decreased 12.6 percent from February 2018 to February 2019.
  • The average sales price to original list price ratio continued a longer-term trend, increasing 0.5 percentage points from 98.1 in February 2018 to 98.6 in February 2019. Sellers are receiving nearly the entire original listing price.
  • The continued tight inventory along with sellers receiving nearly their full asking price has coincided with the median sales price of homes sold in Loudoun County increasing 4.4 percent from $449,000 in February 2018 to $468,750 in February 2019.
  • The month-over-year increase in the median sales price of homes sold in Loudoun County was the fourth consecutive February increase, resulting in the highest February median sales price in over a decade.

For more information, read the full report.