October 2022: Market Indicators Report
Click here for the full October 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales continue to moderate in the Loudoun County housing market.
There were 414 sales in the county in October, down 36.7% from the previous year, which is 240 fewer sales. All local markets have seen a drop off in sales activity this month. Ashburn zip code 20147 had the largest fall in sales this month with 50 fewer sales than last year (-44.2%). Chantilly zip code 20152 had 30 fewer sales (-50.8%) and Leesburg zip code 20176 had 26 fewer sales than last October (-34.7%).
Pending sales activity in Loudoun County continued to decline this month.
In October, there were 345 pending sales across the county, 301 fewer pending sales than last year, a decline of 46.6%. The number of pending sales declined in all markets within the county this month. In Ashburn zip code 20148, there were 67 fewer pending sales this month compared to a year ago (-56.3%). Chantilly zip code 20152 had a 58% drop in pending sales activity, and Leesburg zip code 20176 had 33.3% fewer pending sales.
Despite the slowdown in sales activity, prices continue to climb in the county.
The median sales price in October in Loudoun County was $655,000, up $45,000 from the previous year, which is a 7.4% increase. The largest price gain was in Aldie zip code 20105 with the median home price reaching $962,495, a price jump of $272,495 from the same time last year (+39.5%). Prices were also up in Leesburg zip code 20175 (+39.5%) and Chantilly zip code 20152 (+22.1%).
Supply is building up as active listings increase in the county.
There were 622 active listings at the end of October in Loudoun County, 202 more listings than last year (+48.1%). Leesburg zip code 20176 saw active listings rise by 44 listings (+129.4%) and Sterling zip code 20164 had 31 more listings than a year ago (+75.6%).
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.