September 2022: Market Indicators Report
Click here for the full September 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity remains well below the level it was last year in Loudoun County.
There were 472 sales in the county’s housing market in September, 262 fewer sales than a year ago, representing a 35.7% drop. Sales activity has been trending down for 13 straight months in the region. In Ashburn zip code 20148 there were 68 fewer sales compared to last year (-49.6%) followed by Leesburg zip code 20176 with 36 fewer sales (-41.4%) and Chantilly zip code 20152 with 25 fewer sales (-49.0%). Purcellville zip code 20132 was the only market where sales increased with two more sales than a year ago (+8.7%).
Pending sales continue to fall throughout the county.
In September, there were 407 pending sales, down 36.1% from last year, which is 230 fewer sales. Ashburn zip code 20147 had the biggest drop with 38 fewer pending sales in September compared to the previous year. Chantilly zip code 20152 had 33 fewer pending sales than a year ago (-56.9%) as well as Ashburn zip code 20148 (-35.9%).
Prices continue to climb in Loudoun County.
The median sales price in the county in September was $639,995, up 6.7% from a year ago, a gain of $39,995. Ashburn zip code 20148 saw the largest leap in price growth with the median price reaching $770,000, up $125,000 from last September (+19.4%). Median prices continued to climb in Aldie zip code 20105 (+14.2%) and Sterling zip code 20165 (+14.8%). Chantilly zip code 20152 saw home prices dip 7.3% from last year, a drop of $46,900.
Inventory has continued to grow in the county’s housing market.
In Loudoun County at the end of September, there were 660 active listings, 110 more listings than the previous year, a 20% increase. This is the seventh straight month that inventory has grown in this area. Listings in the county saw the most growth in Leesburg zip code 20176 (+50 listings) and Sterling zip code 20164 (+37 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.