November 2020: Market Indicators Report
Click here for the full November 2020 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Surging home sales continue in Loudoun County for the 5th consecutive month.
There were 649 sales in the County in November, a 38.1% jump from last year, which is 179 more sales. Sales growth was very strong in Leesburg (zip code 20176) and Chantilly (zip code 20152) in November, more than doubling from last year, up 115.0% and 138.5%, respectively.
Strong growth in pending sales this month could signal busy winter ahead.
There were 584 pending sales in the County in November, a 41.7% surge from a year ago. Notably, pending sales of townhomes and condos jumped up by 74.3% from last year, the largest influx in more than 5 years.
November median sales price soars $67,000 higher than a year ago, largest price gain in more than 5 years.
At $560,000, the median sales price in the County this month rose 13.6% from last year. The price growth occurred in all local markets and reflects the tight supply of homes available. The median sales price rose 15.6% in Ashburn (zip code 20147) and 19.6% in Chantilly (zip code 20152).
There is only a 1/2 month of supply in the Loudoun County housing market; active listings continue to plummet.
There were 336 active listings in Loudoun County at the end of November, a 61.2% reduction from last year. New listings continue to trend upward (+29.8%), but not enough to alleviate the historically tight inventory.