May 2024: Market Indicators Report

Key Market Trends

Loudoun County sales decreased slightly in May compared to last year. In May, there were 494
home sales in Loudoun County, a 3.1% decline from the year prior, which is 16 fewer sales. Sale
numbers dipped in Ashburn zip code 20148 with nine fewer sales (-9.9%) and Leesburg zip code
20176 with eight fewer sales than last May (-13.8%). The number of sales increased compared to last
May in Sterling zip code 20165, with 26 additional homes sold this month (+89.7%).

Pending sales activity in Loudoun County fell short from last May. There were 512 pending
sales in May in Loudoun County, six fewer pending sales than last year, dropping by 1.2%. The two
markets where pending sales decreased the most were Sterling zip code 20165, with 17 fewer
pending sales (-37.0%), and Aldie zip code 20105, with 16 fewer pending sales than a year ago ( –
34.0%). However, Leesburg zip code 20176 (+44.7%) and Ashburn zip code 20147 (+16.3%)
experienced a significant increase in pending sales activity compared to this time last year.

In Loudoun County, the median home price continues to trend upwards from a year ago. In
May, the sales price reached $748,250 in Loudoun County, 5.4% higher than last year, a $38,250
price gain. In Lovettsville zip code 20180, the sales price in May increased by $377,500 from a year
ago (+49.2%), while Sterling zip code 20164 saw a $87,500 jump in home prices (+16.6%). There was
a $64,500 reduction in the median sales price in Leesburg zip code 20175 (-8.0%) compared to the
year prior.

Inventory grew as the number of active listings jumped up in May compared to last year. In
Loudoun County, there were 482 listings at the end of May, 135 more than the year before, bringing
listing activity up 38.9%. Ashburn zip code 20147 (+107.1%) and Leesburg zip code 20176 (+51.1%)
experienced the most significant increase in listings this month. Active listings saw a slight decrease
in Lovettsville 20180, with three fewer listings than last year (-27.3%).