Home Prices Increase As Sales, Listings Slow: Loudoun Realtors

LOUDOUN COUNTY, VA — Home prices continue to soar in Loudoun County, according to the most recent report from the Dulles Area Association of Realtors. However, the number of home sales is still down to historically low levels of inventory.

In January, the median home sale price in Loudoun County was $590,000. It's a 6.1 percent increase of January 2021, or an average of $35,000.

"In Loudoun County we’re continuing to see historically low inventory as property demands persistently rise into the new year," Rich Blessing, 2022 Dulles Area Association of Realtors President, said in a news release. "With prices surging at both a national and local level and little indication of slowdown, home buyers are taking advantage of the current low interest rates."

The DAAR reported 293 home sales in Loudoun County in January, a 33 percent decline over January 2021 levels. The county has seen a decrease in home sales since the fall of 2021, but this is the largest year-over-year decrease the Realtors' association has seen thus far.

The sharpest year-over-year declines were in Leesburg's 20176 zip code, Chantilly's 20152 zip code, and Ashburn's 20147 zip code. Their number of sales decreased by 49.1 percent, 48.6 percent, and 37.5 percent, respectively.

The steep drop in available homes for sale has caused prices to soar in some of Loudoun County's zip codes, according to the DAAR report. In Leesburg's 20175 zip code, median home prices increased by 43.6 percent over January 2021 levels. Purcellville zip code 20132 saw prices increase by 21.1 percent compared to the same timeframe, and Ashburn's 20147 witnessed price increases of 18.4 percent.

The full report on January 2022's home market from the Dulles Area Association of Realtors is available online.