The most recent report from the Dulles Area Association of Realtors (DDAR) shows a steady growth overall in home prices in Loudoun County, and further that homes are selling fairly quickly. In April, for the eighth month in a row, median sale prices for homes sold in Loudoun rose to $434,900, or 38% higher that the low of $315,000 in April 2009. In addition, sellers received about 97.9% of the asking price in April, a sign of both strong seller’s market as well as accurate pricing by area realtors.
In terms of inventory, there are more detached homes (single family) available — a five month’s supply, than town homes, for which there is about a two-month supply. The number of contracts being signed is 10.9% higher than a year ago, and with the exception of higher priced homes, the number of days on market were half the number a year ago.
By zip code the statistics are mixed. For example:
In Leesburg (zip code 20175) the median sales price was up $90,000 over the year ago period. But in zip code 20176 (more high priced homes) median sales price was done $25,000.
In Ashburn (zip code 20148) the median sales price was up $61,000 over the year ago period. But it was down $25,000 in zip code 20147, another area of more high prices home.
Nationwide, the median sale prices of homes was up by $15,000.