July 2017 Loudoun County Market Trends Report Inventory Continues To Tighten Sales Growth Stabilizes

Dated: 08/17/2017

Views: 380

Image titleJuly 2017 Loudoun County Market Trends Report: Inventory Continues to Tighten; Sales Growth Stabilizes 

Prepared for the Dulles Area Association of REALTORS® by the Center for Regional Analysis at George Mason University based on analysis of MRIS multiple listing data from MarketStats by ShowingTime.  


Report Highlights:

  • For the 25th consecutive month, active inventory continued to decline. At the end of July, inventory was 15.8 percent lower than the same point last year. This left 1,479 homes for sale at the end of the month, with 2.6 months of supply heading into August. 

  • Reversing the trend from the past two months, new listing activity decreased in July versus last year (-5.5 percent). Loudoun County added 762 new homes to the market in June – the lowest number of July new listings in five years. This signals little respite from the market’s consistently low supply of homes.

  • Sales growth remains steady as the 802 closed sales in July was an increase 4.6 percent over July 2016. 

  • Fewer buyers signed contracts to buy homes in July compared to last year – new pending sales decreased 9.1 percent to 607. This is a sign that low inventory is likely suppressing sales, as both limited choices and climbing home prices sideline prospective buyers.

  • Increases in Loudoun County’s median sales price have moderated slightly, rising 1.6 percent in July on an annualized basis to $457,250 –  a slight decrease from last month but nevertheless the highest July figure in the past decade. 

  • Loudoun County homes continue to sell faster than last year, with half of the July sales being listed for 13 days or less, down from July 2016’s median of 20.

  • Loudoun County home sellers received on average 98.4 percent of original list price in June.

  • Condos saw a substantial year-over-year decline in new listings (-25.2 percent) yet an increase in sales (+5.3 percent), tightening their supply to just under 1.5 months. The median sales price of condos reached the second highest on record at $299,900.


Blog author image

Melody Visser

Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Currently, she serves as a REALTOR at eXp Realty, LLC. As a life-long resident of Virginia, Melody has....

Latest Blog Posts

Free Real Estate Training provided by eXp Realty in Woodbridge VA

Free Real Estate Training provided by eXp Realty in Woodbridge VASeptember 6th at PWAR Free Training & Refreshments for real estate agents and brokers wanting to get their business to the next

Read More

Closet Storage Systems Basics

Your new home has an amazingly huge closet, but a startling lack of places to hang stuff. Sure, you could pile all your extra clothing, shoes and accessories in the corner, or move your antique

Read More

Thinking about buying a home find out if you are ready.

If you are like most of us. We are looking for the castle with the price tag of an outdoor shed at Home Depot. Knowing what you can afford and comfortable with a payment is something that you should

Read More

5 Things to Consider Before Starting a Master Bath Remodel

You got an amazing deal on your home, in part because the master bathroom was kind of really outdated. The wallpaper says it all — and that pink toilet, oh boy. You are so ready to do

Read More