March 2024: Market Indicators Report

Key Market Trends

Sales activity continues to dip in the Loudoun County housing market. There were 369 sales in the county this month, seven fewer sales than last year, decreasing by 1.9%. The markets with the biggest drop in sales were Aldie zip code 20105, with 14 fewer sales (-32.6%), and Lovettsville zip code 20180, with nine fewer home sales (-75%). Sales in Leesburg zip code 20176 went up in March with 11 additional sales (+28.9%), while Ashburn zip code 20148 had 10 more sales than the year before (+20.4%). 

In Loudoun County, pending sales decreased this month compared to a year ago. There were 435 pending sales in March, down 5.6% from a year earlier, which is 26 fewer pending sales. Leesburg zip code 20176 had 12 fewer pending sales than last year (-19%), and Aldie zip code 20105 had 10 fewer pending sales (-23.8%). Pending sales went up in Ashburn zip code 20147 (+9.9%) and Chantilly zip code 20152 (+21.4%). 

The media sales price in Loudoun County continues to climb. Home prices rose 3.5% bringing the median sales price to $745,000 in the County, $25,000 higher than a year earlier. Prices jumped up in Aldie zip code 20105 (+18.0%), Lovettsville zip code 20180 (+25.1%) and Sterling zip code 20164 (+31.6%). The median sales price dropped in Ashburn zip code 20148 (-8.7%) and Leesburg zip code 20175 (-6.8%). 

There was an uptick in active listings as supply continued to expand. In Loudoun County, the number of active listings went up 1.1%, with a total of 359 listings on the market at the end of March, four more listings than last year. Listing growth occurred in Leesburg zip code 20176 with 14 more listings than a year ago (+31.1%) and Purcellville zip code 20132 with five additional listings (+21.7%). In March, the number of active listings went down in Ashburn zip code 20147 (-15.7%).