December 2022: Market Indicators Report
Click here for the full December 2022 Loudoun County Market Indicators Report for the Dulles Area Association of REALTORS® by Virginia REALTORS®.
Key Market Trends
Sales activity continued to slow down significantly in December.
There were 332 sales in Loudoun County in December, down 214 sales from the previous year, a 39.2% drop off in activity. For the third straight month all local markets had a slowdown in sales compared to the prior year. Ashburn zip code 20147 had 34 fewer sales compared to December last year (-41.5%), and Sterling zip code 20165 had 26 fewer sales (-54.2%). Chantilly zip code 20152 had 20 fewer sales (-46.5%).
Pending sales way below the December level from last year across the county.
There were 219 pending sales in Loudoun County this month, 96 fewer pending sales than the same time last year, a decrease of 30.5%. Ashburn zip code 20148 had 17 fewer pending sales than last year (-34.0%) while Aldie zip code 20105 had 15 fewer pending sales (-55.6%).
The median sales price in Loudoun County inched down for the first time in nearly four years.
In December, the median sales price in Loudoun County was $620,000, down $5,000 from a year ago, a modest 0.8% decline. Most local markets in the county had a drop in the median price this month. Prices fell by double digits in Purcellville zip code 20132 (-20.1%), Leesburg zip code 20175 (-22.0%) and Aldie zip code 20105 (-15.0%). The median sales price increased in Lovettsville zip code 20180 (+17.5%) and Sterling zip code 20164 (+11.1%) compared to a year ago.
The number of active listings continues to build up as market activity slows.
At the end of December, there were 353 active listings in Loudoun County, 157 more listings than the previous year, rising by 80.1%. Most of the additional listings were in Sterling zip code 20164 with 35 additional listings (+583.3%), Leesburg zip code 20176 (+168.4%) and Aldie zip code 20105 (+207.7%).
Data Note: The housing market data for all jurisdictions in Virginia was re-benchmarked in November 2021. Please note that Market Indicator Reports released prior to November 2021 were produced using the prior data vintage and may not tie to reports that use the current data set for some metrics. We recommend using the current reports for historical comparative analysis.