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2023 Most Expensive Homes Sold in Loudoun

2023 Most Expensive Homes Sold in Loudoun

Time for us to do our annual look back on how the luxury real estate market performed in Loudoun over the course of the last year! As home prices have continued to rise, the definition of ‘luxury market’ in Loudoun has adjusted as well. Our average home price rose to $778,048 in 2023, up from $755,000 in 2022. And as we wrote in last year’s wrapup, the new threshold for luxury is around $2 million. Of the 4,107 resale homes that sold in Loudoun last year, 60 sold for $2 million or more. (Keep in mind that we don’t include new construction in this wrap up, as pricing for those is usually a touch higher and not all new construction homes make it into the multiple listing service.)

Has the luxury market changed much over time?

While the prices have adjusted, for sure, the homes that fall into the highest price point in the market have not. In fact, four of the five homes on this year’s list have been in the top five within the last 10 years! Given that the typical amount of time that homeowners keep their homes is 10-13 years, it makes sense that we would start to see some of the same homes turn over. We have so many long-standing, large acreage estates in the more rural parts of the county, that when they change hands, they naturally make this list. One change, though, is that we now have several ‘newer’ high-end neighborhoods that frequently make the list: Grenata, Beacon Hill, Creighton Farms, and even Willowsford regularly appear in the top 10, if not the top 5.

For this past year, three of the top five homes were clustered within 2.5 miles of each other in the southern part of the county, not too far from Middleburg. The very first year we wrote about the luxury market, in 2010, the top five homes ranged in price from $2.175 million to $5 million. Last year, it took $3.3 million to make the list, and the most expensive was $4.95 million. In 2023, the threshold for top five was a cool $4 million. Here’s the homes that made the list for 2023:


#5: 22488 Madison Hill Place, Leesburg, for $4,000,000

Starting off the list is a familiar Creighton Farms home with a French Colonial design. This home on Madison Hill Place was actually on our 2022 list, when Jay Gruden sold it for $3.675 million and landed in the #4 spot. The only changes made over the past year appear to be aesthetic- more modern light fixtures on the main level of the home, some reorganization of the game room downstairs, and some changing out of paint colors. (Sad to see they chose to paint over the wood paneling in the office that I was enamored with from the prior listing!) Jeddie Busch of Compass represented the buyers last year and naturally was the listing agent this year; Adrianna Duggan of Keller Williams was the agent for the new homeowners.


#4: 39881 Snickersville Turnpike, Middleburg, for $4,100,000

While this home has changed hands twice since we started our annual list, this is the first time we’ve written about it. It sold in 2021 for $3.75 million, which didn’t crack the top five. In 2017, it sold for $3 million- but that was the one year we missed posting! This year’s listing is shown ‘for comp purposes only,’ generally meaning that it was not marketed in the MLS and added after it closed so appraisers have access to the data on the sale. Because of that, there’s not much description in the listing. The home was built in 1982, sits on just shy of 80 acres, has more than 7,500 finished square feet of living space, and underwent extensive renovations in 2017. There was no listing agent named, and Jane Morrison of Varity Homes represented the purchasers.


#3: 40483 Grenata Preserve Place, Leesburg, for $4,600,000

Grenata is one of our favorite Loudoun neighborhoods, and we had been tracking on this particular listing since it first hit the market in 2020. The original listing ran for a year (and had contract fall out on it) before the owners switched to Mark Lowham of TTR Sotheby’s International. The stunning home sold in April 2023, with Arslan Jamil of Sampson Properties representing the buyers. Sitting on 3 acres just outside of Leesburg, the French Provincial home includes more than 15,000 square feet of finished space, and includes all the bells and whistles you would expect: gourmet kitchen, solarium, wine cellar and tasting room, elevator, resort-style salt water pool and pool house, as well as a separate guest apartment.


#2: 22956 Carters Farm Lane, Middleburg, for $4,950,000

Look familiar to you? It’s because Rutledge Farm was on our 2015 list, when it sold for $5.5 million and tied for the most expensive home sold that year. This historic home was built in 1740, added onto in 1820, and situated on 128 rolling acres. Beyond the stone manor home, there are extensive equestrian facilities and accompanying buildings. From the description, it looks like some of the original 125 acres were split off and sold separately, as this listing only included 85. A little digging revealed 28.62 acres, with guest house and broodmare barn, sold for $2 million this year- and the same agents were involved in both transactions. Paul MacMahon of Sheridan-MacMahon was the listing agent, and Laura Farrell of TTR Sotheby’s International Realty represented the buyers.


The most expensive home sold in Loudoun in 2023?

#1: Wind Fields Farm, in Middleburg, for $6,825,000

If we had done a post on the most expensive homes sold in 2007, this home would have been #1 on the list that year, as well! However, in 2007, it sold for quite a bit more: $12.5 million, to be exact. And that’s because the prior listing included 463 acres, while this listing ‘only’ included 140. (The other 320ish acres was separately listed for sale in late 2022 for slightly more than $5.5 million, but it hasn’t sold and is temporarily off the market.)

The ‘new’ estate on 140 acres includes the 1853 stone manor home, with 8 bedrooms, plus 9 full and 3 half baths, and almost 7,000 finished square feet. The gorgeous property includes scenic views, equestrian facilities, mature woods, ponds, and creeks. Paul MacMahon, mentioned above, had a very busy year, as he represented both the buyer and the seller on this transaction.

Currently in Loudoun, we are still experiencing an inventory shortage. We only have 173 active resale properties, including 93 detached homes and 24 homes priced between $2 million and $10.5 million. (And yes, we’ve already had our first $2 million+ home sold in 2024- in Beacon Hill. Come back next year and see if it made the list!)

You can find more luxury homes in the links below. Enjoy!

Cheers,

Heather

Want to look back at each of the yearly posts? Here’s the links to the Most Expensive Homes Sold in Loudoun for 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2018, 2019, 2020, 2021, and 2022.


View All Loudoun Luxury Homes

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Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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