The Dulles Area Association of Realtors’ September 2022 Market Indicators Report showed Loudoun’s housing market continuing its shift back toward pre-pandemic norms for the seventh straight month.
“While current economic factors like inflation are certainly at the forefront of the conversation, the Loudoun market as a whole is shifting much closer to pre-pandemic levels,” DAAR President Rich Blessing stated. “In addition to steadier price growth and rising inventory levels, Loudoun County homes were on the market for an average of 25 days last month the longest we’ve seen since February 2020. These are all promising signs for buyers, who have been able to take back a bit of control in their home searches and negotiations.”
The report found sales remaining well below their level a year ago, continuing a 13-month trend in the region. In September, there were 472 sales in the county’s housing market, 262 fewer sales than a year ago, a 35.7% drop. Realtors reported the largest drops in the Ashburn ZIP code 20148, with a 49.6% drop, and the Chantilly ZIP code 20152 with a 49% drop. The Purcellville ZIP code 20132 was the only ZIP code that saw an increase, with two more sales than September 2021.
Meanwhile, the inventory of homes for sale in Loudoun has continued to grow. At the end of September there were 660 active listings, 110 more than the previous year and a 20% increase. Listings saw the most growth in Leesburg-area ZIP code 20176, with 50 more, and Sterling ZIP code 20164, with 37 more listings. It was the seventh straight month of inventory growth in Loudoun.
The monthly report is produced by Virginia Realtors. Learn more about the Dulles Area Association of Realtors at dullesarea.com. See the full report at dullesarea.com/wp-content/uploads/2022/10/DAAR-Market-Indicators-Report-September-2022.pdf.