February 2022: Market Indicators Report
Click here for the full February 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity in Loudoun County continues to moderate from the busy pace last year.
There were 368 sales in the county in February, 84 fewer than a year ago, which is an 18.6% drop. Sales have slowed down compared to last year seven of the last eight months. There was an influx of sales from last month, up 25.6% from January, which is a larger month-to-month increase than what typically occurs this time of year. The sharpest year-over-year drop in sales this month occurred in Chantilly zip code 20152 (-57.1%) and Leesburg zip code 20175 (-34.0%). Sales increased in Ashburn zip code 20148 (+14.5%) and Aldie zip code 20105 (+13.8%) compared to last February.
Fewer pending sales in February in most local markets compared to last year.
There were 508 pending sales in Loudoun County in February, an 8.6% decrease from last year, a decline of 48 pending sales. Pending sales have slowed down in the county for nine straight months compared to the frantic pace a year ago. The market slowdown is also due to the shortage of inventory in the county. Within the local markets, the sharpest drops this month in pending sales were in Sterling zip code 20164 (-37.5%) and Purcellville zip code 20132 (-37.0%).
Upward price pressure continues to be a big factor in the county’s housing market.
The median sales price in Loudoun County in February was $628,306, a 7.4% increase from last year, which is about a $43,000 gain. The strongest price growth in February was in Aldie zip code 20105 (+22.9%), Sterling zip code 20164 (+15.3%), and Chantilly zip code 20152 (+14.8%).
Supply remains very low in the Loudoun County housing market.
There were just 167 active listings in Loudoun County at the end of February, which is 18 fewer listings than last year (-9.7%). There were 587 new listings in the county in February, 21 fewer than a year ago (-3.5%).