September 2019 Loudoun County Market Trends Report: 10-year Record Highs for September Sales


Overview

  • Loudoun County’s year over year September median sales prices increased for an eighth year in a row, up 2.1% since last September. The end-month Loudoun County median homes sales price of $495,000 reflects a new 10-year record high.
  • Closed sales across Loudoun County in September totaled 539, a 10-year record high, increasing over the 12-month period by 25.4%. End-month new pending sales likewise closed at a 10-year high for the month of September. The number of September pending sales, 554 units, reflects a 17.9% increase in year-over-year new pending sales, as well as an 8.2% increase over the same-month new pending sales five-year average.
  • Loudoun County’s new listings for the month of September, totaling 658 units, increased 6.3% since last September. This was down by 18.1% from the ten-year high of 803 units and 4.7% below the five-year average. As in August 2019, active listings at the close of September 2019 showed a five-year decline in inventory. September active listings fell from 1,240 to 935, or 24.6%, over the past 12-months (since 2018) and from 2,291 to 935, or 59.2%, over five years (since 2014) .
  • As in August 2019, the average SP to OLP ratio across Loudoun County posted a 10-year record high in the month of September 2019, rising two full points over five years. Detached homes showed greater year-over-year and two-year gains than attached homes. Increases in average SP to OLP ratios for detached homes were 0.72% over 12-months and 1.24% over two years; attached homes posted increases of only 0.51% over 12-months and 0.51% over two years.
  • The median number of days on market for September sales in Loudoun County was 15 days. This measurement is 29 days fewer than in September 2018. Moreover, this number is 62 days fewer than in September 2015, when the median number of days on market posted a record high for the decade. Notably, September 2019 median DOM were 25 for detached homes and only 9 for attached homes.

For more information, read the full report.