The Long & Foster Market Minute

Focus On: Loudoun County Housing Market October 2019

Units Sold
548
Active Inventory
930
Median Sale Price
$498,900
Days On Market
30
Up 5%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 548 sold this month in Loudoun County Real Estate versus 566 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 5% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 220 units or 19%. The total number of active inventory this October was 930 compared to 1,150 in October 2018. This month's total of 930 is lower than the previous month's total supply of available inventory of 1,060, a decrease of 12%.

Median Sale Price
Last October, the median sale price for Loudoun County Homes was $485,500. This October, the median sale price was approximately the same at $498,900. The current median sold price is 3% higher than in October 2018.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
662
Current Contracts
522
Sold Vs. List Price
98.8%
Months of Supply
1.7
Up 9%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In October, there was 1.7 months of supply available in Loudoun County, compared to 2.2 in October 2018. That is a decrease of 23% versus a year ago.

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.

New Listings & Current Contracts
This month there were 662 homes newly listed for sale in Loudoun County compared to 608 in October 2018, an increase of 9%. There were 522 current contracts pending sale this October compared to 512 a year ago. The number of current contracts is 2% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Loudoun County was 98.8% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 32, a decrease of 6%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.