February 2021: Market Indicators Report
Click here for the full February 2021 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Market activity continues to outpace last year by double-digit rates in most local areas.
There were 444 sales in Loudoun County overall in February, which is 100 more sales than last year, representing a 29.1% surge. Sales in Chantilly (zip code 20152) more than quadrupled from last February (+380.0%), and sales in Ashburn (zip code 20147) more than doubled (+132.3%).
Dip in pending sales activity for the first time in nine months.
There were 531 pending sales in Loudoun County in February, 14 fewer than last year, a 2.6% decline. This is the first drop in pending sales since last May. The largest declines occurred in Purcellville (zip code 20132), which had 34.9% fewer pending sales, and Leesburg (zip code 20176), where pending sales were down 20.0% from a year ago. Several local markets had more pending sales than last year; the strongest growth was in Leesburg (zip code 20175), up 33.3% from a year ago.
A $90K jump in median sales price, largest price gain for the County in more than five years.
Prices are soaring in the Loudoun County housing market. The February median sales price in the County was $585,000, which is an 18.2% spike from last year. Most local markets experienced very sharp price growth this month. The strongest growth occurred in Sterling (zip code 20165), which had a 30.0% increase in the median sales price.
Inventory levels continue to plummet; new listings down for second straight month.
There were only 237 active listings in the County at the end of February, a 61.4% reduction from last year. There were 623 new listings this month, 11.3% fewer than last year.