July 2022: Market Indicators Report
Click here for the full July 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity slowed throughout Loudoun County in July.
There were 548 homes sold across the county in July, 323 fewer sales than a year ago, which is 37.1% decline. Sales have moderated for 11 straight months compared to the busy pace last year. All local markets had fewer sales than a year ago. There were 76 sales in Ashburn zip code 20148, 78 fewer sales than last July (-50.6%). Sterling zip code 20165 had 44 fewer sales (-55.7%), and Leesburg zip code 20176 had 34 fewer sales than last July (-33.3%).
Pending sales continue to moderate in most local markets.
In July there were 460 pending sales, down 41.4% from this time last year (-325 pending sales). Within the local markets, Ashburn zip code 20147 had 65 fewer pending sales (-45.8%), and Chantilly zip code 20152 had 32 fewer pending sales (-46.4%). The Purcellville zip code 20132 market had an influx of 11 pending sales this month (+50.0%).
Prices continue to climb in the Loudoun County housing market.
The median sales price in July countywide was $685,000, rising $55,000 from a year ago (+8.7%). Purcellville zip code 20132 had the strongest price growth this month, the median sales price in the zip code jumped up by $202,000 from last July to $887,000 (+29.5%). Prices surged in Sterling zip code 20165, up 26.8% from a year ago, a gain of $147,500 to the median price. The median sales price in Ashburn zip code 20148 rose 19.9%, a gain of $135,000.
Supply is building up in the county’s housing market.
There were 731 active listings at the end of July in Loudoun County, 128 more listings than last year, a 21.2% increase. The inventory has been growing for five straight months in the county. Most of the additional listings this month were in Leesburg zip code 20176 (+41 listings), and Aldie zip code 20105 (+39 listings).
Data Note: The housing market data for all jurisdictions in Virginia was re-benchmarked in November 2021. Please note that Market Indicator Reports released prior to November 2021 were produced using the prior data vintage and may not tie to reports that use the current data set for some metrics. We recommend using the current reports for historical comparative analysis.