The real estate market has been quite strong this year and the month of May saw the real estate market flex it's muscles!  The overall number of home sales increased 19% from last year to its highest level in over a decade.  With these strong home sales, inventory has also increased 13% from last year to 2,220 units for sale.

Some highlights from this past month:

  • 621 closed sales transactions in the month (highest mark since May 2005)
  • Median sales price was $439,000, an increase of 3.6% compared to last year and highest level in May since 2007.
  • Over half of the homes in May were on the market for less than 20 days before a contract was in place.  Overall average days on market is at 50 days, an increase of 16 days from last year

These stats are interesting when looking at overall trends but to give you a bit better view of the market - below I will highlight the Loudoun County real estate activity by property type.

Detached Homes:

  • Median sales price was $575,750, an increase of 2.7% from last year
  • Average days on market for a detached home ended at 57 days, more than 14 days higher than this month last year
  • There are a total of 1,487 active listings on the market which represent 6.2 months of supply (4-6 months supply is considered a neutral market, more than 6.0 is considered a 'buyers market')

Attached Townhomes:

  • Median sales price was $383,150, a decrease of 3% compared to last year
  • Average days on market ended May at 37 days, an increase 13 days this time last year.
  • Total active listings of 468, representing 2.8 months of supply which is flat from last year.  This 2.8 inventory levels favors the home seller and is considered a 'sellers market'

Attached Condo:

  • Median sales price of $250,000, a decrease of 8.1% from last year
  • Average days on market ended at 55 days, an increase of over two weeks compared to May of last year
  • Currently 265 active listings at the end of May representing 4.1 months of supply - this is considered a neutral market for condo sales.

An interesting view of the Real Estate activity in Loudoun County is looking at home sales and prices by zip code.  Below we have compiled a list of the active zip codes and the trends in median sales price.  Below's table shows in the Ashburn zip code of 20148 the real estate market was strong with an increase in sales price of 15.2% and YTD up 2.9%.

Loudoun County Median Sales Price May 2015