Median Home Price Reaches $628K As Inventory Remains Low In Loudoun County

LOUDOUN COUNTY, VA — It's still a seller's home market in Loudoun County, according to the monthly report from the Dulles Area Association of Realtors. The report cited historically low inventory for continued high home prices.

Compared to February 2021, the number of home sales in Loudoun County decreased last month. The report noted a 18.6 percent drop in home sales when comparing February 2021 to February 2022.

Meanwhile, the price of homes in Loudoun County continues to rise. The median sale price grew 7.4 percent, or $43,000, from February 2021's levels. The median sales price in Loudoun County in February 2022 was $628,000.

Rich Blessing is the president of the Dulles Area Association of Realtors. "Our February market statistics continue to reflect the low inventory in Loudoun County and the subsequent effects on the housing market," Blessing said. "As the historically low inventory is driving up prices dramatically, rising mortgage rates could also create challenges for buyers who want to purchase a home."

The number of pending sales dropped for a ninth consecutive month, the report said. In February, Sterling and Purcellville saw the steepest drops in pending home sales.

More information about the real estate market in Loudoun County is available through the Dulles Area Association of Realtor's report. The February 2022 report is now available, along with reports dating back to 2000.

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