June 2024: Market Indicators Report

Key Market Trends: June 2024

Home sale numbers fell for the second consecutive month in Loudoun County. In June, there were 521 homes sold throughout Loudoun County, 16 fewer sales than a year ago, dipping by 3.0%. Activity was down in Sterling zip code 20165 with 19 fewer sales (-37.3%) and Ashburn zip code 20148 with eight fewer sales than last year (-9.4%). Sales grew 20.0% in Leesburg zip code 20176 with 12 additional home sales.

Loudoun County saw pending sales activity trend upward this month, showing promising signs for the market. There were 503 pending sales across Loudoun County, 47 more than a year ago, reflecting a 10.3% increase. Leesburg zip code 20176 had 20 more pending sales than last year (+40.0%), while Ashburn zip code 20147 had 15 additional pending sales (+22.4). Activity dipped in Sterling zip code 20164 (-12.5%) and Lovettsville zip code 20180 (-45.5%).

Home prices remained elevated in Loudoun County. At $755,000, the median sales price in Loudoun County rose 9.4% from last June, which is an additional $65,000. Prices grew in Lovettsville zip code 20180 with a $260,000 price gain (+33.5%) and Aldie zip code 20105 with the median price up $180,000 from last year (+20.7%). Homes sold in Leesburg zip code 20176 saw a $37,500 reduction in price (-4.7%).

Active listings rose for the second consecutive month compared to the prior year. There were 491 active listings at the end of June, 95 more than last year, marking a 24% increase. Local markets experienced an increase in listings this month compared to last year, with Purcellville zip code 20132 (+95.0%) and Ashburn zip code 20147 (+42.5%) seeing the most significant growth in listings.