August 2022: Market Indicators Report
Click here for the full August 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity continued to slow down in Loudoun County for the month of August.
There were 548 sales in the county in August, 271 fewer sales than last year, a decrease of 33.1%. Sales have been falling over the last year for 12 consecutive quarters. The sharpest drop in sales this month occurred in Ashburn zip code 20147 which had 57 fewer listings (-39.0%) and Sterling zip code 20165 with 30 fewer listings than last August (-46.2%).
Pending sales are down from a year ago in the DAAR footprint.
In August there were 512 pending sales in Loudoun County, falling 30.7% from the previous year, which is 227 fewer sales. All local markets have seen a drop off in the number of pending sales. Ashburn zip code 20148 saw the biggest drop this month with 48 fewer pending sales (-36.9%), followed by Chantilly zip code 20152 with 28 fewer sales (-50.0%).
Home prices continue to grow in Loudoun County.
In the county, the median sales price in August was $664,750, a jump of $49,250 or an 8.0% increase from a year ago. The strongest price growth was in Lovettsville zip code 20180 which saw home prices rise by $347,550 from last August(+49.5%). Prices increased by double-digits in Sterling zip code 20165 which saw a $90,100 gain, a 15.5% increase.
Supply is expanding in Loudoun County’s housing market.
At the end of August, there were 640 active listings in the county, 93 more than the previous year, a jump of 17.0%. This is the sixth straight month of inventory growth in the region. The largest amount of additional listings came from Sterling zip code 20164 in August (+41) and Leesburg zip code 20176 (+29).
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.