The Long & Foster Market Minute

FOCUS ON: LOUDOUN COUNTY HOUSING MARKET MAY 2024

Units Sold
487
Active Inventory
584
Median Sale Price
$750,000
Days On Market
11
Down -8%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 487 sold this month in Loudoun County Real Estate versus 456 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 8% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 36 units or 7%. The total number of active inventory this May was 584 compared to 548 in May 2023. This month's total of 584 is lower than the previous month's total supply of available inventory of 620, a decrease of 6%.

Median Sale Price
Last May, the median sale price for Loudoun County Homes was $720,000. This May, the median sale price was $750,000, an increase of 4% or $30,000 compared to last year. The current median sold price is 3% lower than in April.

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


New Listings
581
Current Contracts
526
Sold Vs. List Price
102.1%
Months of Supply
1.2
No Change
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In May, there was 1.2 months of supply available in Loudoun County, compared to 1.0 in May 2023. That is an increase of 15% 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 581 homes newly listed for sale in Loudoun County, which is similar to the amount in May 2023. There were 526 current contracts pending sale this May compared to 532 a year ago. The number of current contracts is 1% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Loudoun County was 102.1% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 13, a decrease of 15%.

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.