July 2023: Market Indicators Report
Click here for the full July 2023 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
In Loudoun County, sales dropped this month.
There were 418 home sales in the month of July, 130 fewer sales than last year, decreasing by 23.7%. Sales dipped the furthest in Ashburn zip code 20147 with 42 fewer sales (-38.2%) and in Leesburg zip code 20176 with 26 fewer sales than the previous year (-38.2%). In Lovettsville zip code 20180, sales rose slightly with three additional sales (+30.0%).
Pending sales increased this month, driven by an influx of activity in Leesburg.
There were 474 pending sales in Loudoun County, up 3% from a year ago, which is 14 additional pending sales. In Leesburg zip code 20175 there were 11 more pending sales (+36.7%) and in Sterling zip code 20164 there were six more pending sales compared to the year prior (+12.0%). Pending sales had the biggest decline in Purcellville zip code 20132 with 15 fewer pending sales than last July (-45.5%).
After inching down last month, the July median sales price climbed in Loudoun County.
In the County, the median sales price was $712,500 in July, $27,500 higher than a year ago, growing by 4%. The biggest jump in price happened in Ashburn zip code 20148 (+10.7%) and Leesburg zip code 20175 (+7.8%). Purcellville zip code 20132 (-10.0%) and Chantilly zip code 20152 (-11.4%) saw home prices fall the most compared to the same time last July.
Supply is getting tighter in the Loudoun County housing market.
At the end of July, there were 377 active listings on the market countywide, 354 fewer listings than the year before, a 48.4% reduction. Listings were down in Ashburn zip code 20148 (-49.0%), Leesburg zip code 20176 (-59.1%) and Sterling zip code 20165 (-76.3%).
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.