August 2024: Market Indicators Report

Key Market Trends: August 2024

Sales were flat in Loudoun County compared to last August. There were 465 sales throughout Loudoun County, unchanged from the same time last year. Sterling zip code 20164 had six fewer sales than the year prior (-13.6%) while Aldie zip code 20105 had four fewer home sales (-9.5%). Home sales jumped in Ashburn zip code 20148 with 17 additional sales (+23.9%). 

In Loudoun County, pending sales activity picked up.  There were 412 pending sales in the Loudoun market in August, up 7.3% from last year, which is 28 additional pending sales. Pending sales increased in Leesburg zip code 20176 with 18 additional pending sales (+50.0%), followed by Chantilly zip code 20152 with six more pending sales than a year ago (+46.2%). The number of pending sales fell in Sterling zip code 20164 with 17 fewer pending sales (-31.5%) and Ashburn zip code 20148 down 12 pending sales from last August (-17.4%).

Loudoun County home prices trended higher than last August. The median sales price for a home in Loudoun County was $745,000 in August, $58,000 more than the year before, increasing by 8.4%. The markets with the biggest jump in price growth were Purcellville zip code 20132 (+25.1%), Leesburg zip code 20176 (+20.6%), and Sterling zip code 20165 (+18.2%). Chantilly zip code 20152 saw a drop off in home prices (-9.0%).

Active listings continued to rise in Loudoun County. At the end of August, there were 502 listings throughout the Loudoun market, 80 more listings than the preceding year, resulting in a 19.0% increase in activity. Ashburn zip code 20148 (+50.0%) and Leesburg zip code 20176 (+34.7%) saw an uptick in listing activity. Listings declined in Sterling zip code 20165 (-21.7%) and Lovettsville zip code 20180 (-33.3%).