Loudoun County Housing Market Data
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Home prices are still on the rise in Loudoun County, despite increasing inventory, according to the latest market report from the Dulles Area Realtors Association. Drought risk is based on water stress, which estimates how much of the future water supply will be used for human purposes, like watering the lawn. The Loudoun County, Virginia, housing market is almost as hot as Arlington right now, albeit with lower prices. The Loudoun County, Virginia, housing market is almost as hot as Arlington right now, albeit with lower prices — which is why it's so hot to begin with. In February 2022, the median home price in Loudoun County rose to $628,000. Loudoun County is rapidly growing, high-priced county located in a growing, high-priced metropolitan area (Washington, D.C.).
This area's enrollment policy is not based solely on geography. Please check the school district website for more information. Loudoun County may also be attractive because of choice for buyers looking for newer homes.
What homes are available in Loudoun County, VA?
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. 20.2% of renters in Loudoun County are severely cost burdened, meaning they spend more than half their income on rent. That is slightly below the severely cost-burdened share for the entire D.C. "Following more than two years of market frenzy, we’re beginning to see more options on the market, as well as prices beginning to slow down a bit," DAAR President Rich Blessing said in a news release.
There is just one week’s worth of inventory on the market in Loudoun, according to listing service Bright MLS. And last month sellers got an average of 102% of list price. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
Number of Homes Sold
The average price of a home in Loudoun County jumped 14% year over year for the month of March. This is following the month of February 2013 where we saw the average price of a home in Loudoun County rise 10% when compared to February 2012. The average price of a home for March 2013 is $445,134 with is up from February 2013’s average home price of $433,927. This trend should continue and is expected to continue as inventory levels are currently lagging behind demand from buyers.
Housing market conditions can vary across submarkets within counties. These policy recommendations are based on an assessment of overall county-level housing metrics. Larger counties often have multiple distinct submarkets with varying affordability, physical quality, infrastructure availability, and development regulations. Lower-cost communities tend to have older, poorer quality housing.
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In expensive metro areas, the size of homes and the amount of land used per home are major factors in the price of individual homes. Single-family detached homes on large lots are the most expensive structure type. Rowhouses, townhomes, two-to-four family homes, and low-rise apartment buildings have lower per-unit development costs than detached homes.
Developing a specific menu of zoning reforms will require an assessment of the county’s current housing types, density, and land availability. Exactly what types of zoning reform will yield the largest supply increases and cost reductions will vary across high-cost counties. A locality that has predominantly detached homes on one-acre lots—typical of many outer suburbs—could realize substantial cost savings by allowing rowhouses on 4,000 square foot lots. High-rise construction has the highest per-square-foot costs, and will typically only occur in places with very expensive land and high rents.
Schools in Loudoun County
In Ashburn’s ZIP code, for example, the median sales price for homes sold in November rose by 15.6 percent over 2019, and in Chantilly, the median sales price rose by 19.6 percent according to DAAR. At $560,000, the median sales price in the county for November was 13.6 percent higher than the median sales price in the same month in 2019. The price growth occurred across the county and reflects a tight supply of homes available, the association said in the report, titled “DAAR Loudoun County Market Indicators Report” and prepared by Virginia Realtors. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Loudoun County is not the relative bargain it may have been a few years ago though. The median price of a single-family home that sold in Loudoun in January was a record $860,000.
Big houses that are more affordable are attracting would-be buyers now priced out of the closer-in suburbs. No racist, discriminatory, vulgar or threatening language will be tolerated. Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Even in communities where enough housing is built to accommodate increased demand, market-rate housing remains unaffordable to many low-income households. The poorest 20% of households everywhere in the U.S. spend more than half their income on housing, well above the threshold HUD defines as affordable. Only one in four eligible households receives federal rental assistance, including vouchers and public housing. Local governments that have sufficient resources can supplement these programs through locally funded rental vouchers or direct income supports.
Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. The low inventory of homes for sale in Loudoun was reflected in the 336 active listings at the end of November, a 61.2-percent reduction from last year. New listings are trending upward but not enough to make up for the historically tight inventory, the report said.
Loudoun County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Low vacancy rates are an indication that supply is not keeping up with demand. Enhanced Cost of Living CalculatorNow includes childcare, taxes, health, housing for home owners vs renters, insurance costs and more when you upgrade to premium.
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. 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.
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We have seen the numbers for New Listings and New Pending Sales increase month to month, however these numbers continue to be down significantly when compared to last year at this time. The numbers of closed sales have increased when compared to yearly and monthly numbers. Housing is expensive because supply has not kept up with demand. High prices and rents, combined with low vacancy rates, indicate that there is unmet demand for housing. It is important to realize that no single county can produce enough housing to meet demand for the entire metro area.
While most middle-income households in the metro area can afford median rent in Loudoun, most low- and moderate-income households in the region will fall below this threshold. Loudoun County’s population growth rate, 0.35, is more than double that of the average county in the D.C. Fast population growth drives the demand for additional housing. To develop a more complete picture of housing market conditions in Loudoun County, we draw on a broader set of measures that capture demand, affordability of both owner-occupied and rental housing, and housing quality . An amount below 100 means Loudoun County is cheaper than the US average.
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