Loudoun County Market Update For April 2017

Dated: 05/22/2017

Views: 388

April 2017 Loudoun County Market Trends Report: Home Prices and Sales Soar; Inventory Remains Low 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:


  • Loudoun County’s median sales price increased in April, rising 8 percent on an annualized basis to $469,500 – the second highest figure in the past decade. 

  • Demand growth remained consistent as closed sales are up 14.4 percent from over April 2016 to 644 sales – the largest April number since 2005. However, contract activity is beginning to trend downward as new pending sales decreased 9.6 percent from last year.

  • Active inventory continues to decline. At the end of April inventory was 23.3 percent lower than the same point last year. This left 1,373 homes for sale at the end of the month, with 2.4 months of supply headed into May. 

  • New listing activity decreased significantly relative to last year; 1,020 homes were added to the market in March, down 18.8 percent from April 2016. This signals no reprieve in the coming months from the persistently tight inventory.

  • Loudoun County homes continue to sell significantly faster than last year, with half of the March sales being listed for 7 days or less, down from April 2016’s total of 12. This is the lowest median number of days on market in over a decade.

  • Loudoun County home sellers received on average 99.1 percent of original list price in April.

  • Condos saw the highest number of sales in over a decade.   

CLICK HERE TO GET FULL REPORT!
Image title

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....

Want to Advertise on this Site?

Latest Blog Posts

EXP Realty Woodbridge VA Lunch And Learn At Matchbox

Click here to anomalously reserve your space today for eXp Realty Woodbridge VA Lunch and Learn.Claudia S. NelsoneXp Realty Woodbridge VA571-446-0002Lunch and learn for real estate agents and

Read More

US Housing Market Still In Buy Territory

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across

Read More

What Should You Look For In Your Real Estate Team

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or

Read More

DREAMING OF A LUXURY HOME NOWS THE TIME

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its 

Read More