The latest report from December 2017 for the Loudoun County Housing Market shows a continued pattern of strong performances with homes selling for more money and well below the 5-yr average for Days On Market (DOM). Let’s take a look at what’s going on in the county now and if you’d like more detailed information for your neighborhood then please don’t hesitate to ask!
Inventory shortage continues to be an issue as fewer homes are being listed and those that go on the market, when priced competitively and accurately, are going under contract quickly. For December there were just 333 new listings in the entire county of Loudoun. That’s down from November’s 412 and even down from last December (2016) to 385.
Homes going under contract reached 359 in December, more than came on the market. Meanwhile, 467 homes closed their sales in the same month, well above the 333 that came on the market to replace them. Those numbers put us at just 894 active listings in all of Loudoun County.
As for pricing, we saw a nice climb again with the median home sold price up 2.8% in December 2017 over November with $469,9000. This gives us a final 2017 median sale price of $465,000, a twenty thousand dollar increase over 2016’s median price of $445,000. These numbers are for all home types combined. If you break out detached homes you’ll find the December median sold price at $610,368. 2017’s numbers saw a twenty-five thousand median price increase for detached homes in Loudoun over 2016.
Average Sale Price in Loudoun: Detached & Attached TH
As previously noted, DOM continues to drop with homes in Loudoun seeing an average of just 42 days before going under contract for sale. That’s a strong drop from December a year ago with 55 DOM and the 5-yr average of 58 days. Breaking that down further we saw detached homes with an average of 52 DOM and attached townhouses at just 27 days.
Want to read more of the specifics and details on the housing market here in Loudoun? Grab a free copy of the report below. No sign-up required, just click to download.
Download A Copy Of Loudoun County Market Report – December 2017
- Dec 2017: Loudoun County Market Report (PDF)
- Dec 2017: Detached Homes Loudoun County Market Report (PDF)
- Dec 2017: Townhouse Homes Loudoun County Market Report (PDF)
Ready to find out what your home is worth on the market? I’d be happy to do a deeper dive of the numbers for your neighborhood and your home in particular. In addition, for a quick examination you can see our home evaluation tool here. For more updates like this be sure to join our Facebook page!