Overview
• The inventory of homes listed for-sale in Loudoun County during the month of August were at a same-month ten-year low of only 993 homes. Active listings decreased 19.5% from last August; moreover, residential listings have steadily fallen by 56.7% since a peak of 2,294 available homes in 2014.
• August 2019 (closed) sales are up 4.4% over August 2018 numbers, 643 homes sold last month over 616 homes sold in August of last year. Likewise, August 2019 (pending) sales were up 8.9% from August 2018; the month closed with 590 new pending sales over 542 during August of last year. Yet when compared against their five-year averages, August’s closed and pending home sales reflect little change; comparisons were 0.9% and 1.2%, respectively.
• Interestingly, last month’s Average Sales Price to Original List Price (SP to OLP) ratio reached a ten-year high in the month of August 2019. This ratio exceeded 98% in seven of the ten sub-county localities where home sales exceeded 20 in August 2019.
• August 2019 sales prices came in with a median detached home sales price of $665,000 and a median attached home sales price of $410,500. August’s median sales price for all residential real estate in Loudoun County stands at $515,000, up 9.6% over the five-year median sales price average.
• Notably, active listing and new listings showed year-over-year declines in both detached and attached homes. Combined, August 2019 active listings fell by 19.5% and new listings fell by -15.8%, with these two metrics 33.7% and 10.3% below their five-year averages, respectively.
For more information, read the full report.