September 2024: Market Indicators Report

Key Market Trends: September 2024

Sales activity jumped up in Loudoun County. There were 397 sales in Loudoun County in September, 42 more than the previous year, an 11.8% increase. All local markets saw sales numbers go up, with Purcellville zip code 20132 having the most noticeable sales growth, which is six additional home sales (+40.0%).

Year-over-year pending sales had the highest surge in over a year in Loudoun County this month. At 458, the pending sales activity in Loudoun went up 32.0%, 111 more pending sales than the previous year. There were 31 additional pending sales in Ashburn zip code 20147 (+60.8%) and 26 more pending sales in Leesburg zip code 20176 (+65.0%) compared to last September. However, Lovettsville zip code 20180 had six fewer pending sales than last year marking a significant 54.5% dip.

Home prices continue to trend upward year-over-year in Loudoun County. The median price of a home in Loudoun was $710,000 this month, 2.9% higher than last September, a $19,884 price increase. In Leesburg zip code 20175, the median home price rose 29.7%, bringing the cost of a home to around $806,600 in the county, $184,600 more than the previous year. Homes sold for a median of $615,750 in Lovettsville zip code 20180, $184,250 cheaper than the prior year, a 23.0% drop.

Listing levels grew for the fifth straight month in Loudoun County. The number of active listings in Loudoun totaled 513 at the end of September, 8.2% more than the year before, reflecting an additional 39 listings. The market with the biggest growth in listings was Ashburn zip code 20148, with 24 more listings than a year earlier (+27.6%). Active listings fell in Lovettsville zip code 20180 (-47.1%) and Leesburg zip code 20175 (-17.4%) compared to the end of last September.