The overall Loudoun County real estate market in January ended strong, but with a mixed forecast with what's ahead for the year. The big highlight for the year was not about sales price but about overall inventory. Active listings in Loudoun County reached a decade low in the month declining 17% to just 727 homes for sale this year.
Some fast facts about the results for January include:
- Median Sales price increased to $495,000 or 10% year over year
- Total closed sales are down 9.8% year over year
- Pending sales have declines so we are not going to see the increase in closed sales in the upcoming months
- Average listing price to final sales price ended the month at 98.4%, which is an increase from last year of 1%
- Average days on market for the month was 44 days
If you are interested in the real estate market in your specific neighborhood, a great tool to utilize in our market update report which will give you updates on the new homes on the market, the pending home sales, and the recent home sales for your specific neighborhood. If you are interested in this report - you can create it right here - click the below link.