April 2023: Market Indicators Report
Click here for the full April 2023 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity remains well below last year’s level across most local markets in Loudoun County.
There were 432 sales countywide this month, 214 fewer sales than last April, a 33.1% drop off in activity. This is the slowest April market the county has had in more than a decade. Ashburn zip code 20148 had the biggest decrease in sales with 33 fewer sales than last year (-30.8%) while sales in Leesburg zip code 20176 declined by 21 sales (-29.2%). The only market where sales increased was Lovettsville 20180 with seven more sales than the previous year (+63.6%).
Pending sales cool, signaling a continuation of the slow spring market.
There were 487 pending sales in April in Loudoun County, 241 fewer pending sales than the same time a year ago, falling by 33.1%. Pending sales dipped the most in Ashburn zip code 20147 with 41 fewer pending sales (-34.2%) and Aldie zip code 20105 with 35 fewer pending sales than last year (-51.5%).
The median sales price in the Loudoun County housing market dipped from last April.
In April, the median sales price countywide was $698,250, a 3% decrease in price, which is $21,750 less than last year. This is only the second time in the last four years that the monthly median sales price was lower than the prior year. The sharpest price drops occurred in Lovettsville zip code 20180 down $135,000 from a year ago (-16.3%), Leesburg zip code 20175 (-12.2%) and Chantilly zip code 20152 (-11.1%). In Aldie zip code 20105, home prices were up $45,000 or 5.4%.
The number of active listings continues to build up in most parts of the county.
There were 381 active listings at the end of April in Loudoun County, 11 more listings than the year prior, a 3% increase. In Sterling zip code 20164 there were 13 more listings on the market than last year (+56.5%). Listings fell in Chantilly zip code 20152 with nine fewer listings than the previous year (-52.9%). The total number of new listings in Loudoun County plunged by 37.6% compared to last April.
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.