July 2024: Market Indicators Report

Key Market Trends: July 2024

Sales activity rose in Loudoun County from a year ago. There were 518 home
sales in July, 100 more than the previous year, increasing by 23.9%. The markets
with the most sales growth this month were Leesburg zip code 20176 with 26
additional home sales (+61.9%) and Ashburn zip code 20147 with 14 more sales than
last year (+20.6%).

The number of pending sales inched down in the County. There were 473
pending sales in July, down 0.2% or one pending sale from a year ago. Sterling zip
code 20164 had the most significant dip in activity, with 17 fewer pending sales than
the year before (-30.4%). Pending sales were up in Ashburn zip code 20148 with 11
additional pending sales (+16.2%) and in Leesburg zip code 20176 with nine more
pending sales (+15.3%).

Loudoun County home prices continued to rise this month. In July, the median
sales price throughout the DAAR region was $746,438, a $33,938 price increase from
the prior year, an additional 4.8%. There was double-digit price growth in Aldie zip
code 20105 (+42.1%) and Leesburg zip code 20175 (+25.2%). Prices were down in
Purcellville zip code 20132 (-12.3%) and Ashburn zip code 20148 (-4.7%).

The number of active listings continues to rise in the Loudoun market. There
were 474 active listings in the county at the end of July, 97 more listings than the
previous year, a 25.7% gain. Both Leesburg zip code 20176 (+52.6%) and Ashburn zip
code 20147 (+42.5%) saw listings rise the most this month.