LoCo Update: Sterling is Hopping!

The most recent market report looked at a current inventory of 1403 homes in Loudoun County. For single family homes, the median price was $548,700,  while for condos and townhomes the median price was $256,026.  As you can see from the chart below, inventory has remained low for single family homes, especially in Sterling.  Median price is holding pretty steady across the county, except for the huge jump in Purcellville for condo/townhomes  (as I mentioned last week, there are so few condo/townhomes sold in Purcellville that one or two homes can cause that number to skew wildly.)  Interestingly, Ashburn has seen condo/townhome median price drop from around $320,000 at the start of the year to $290,000 now, while other towns have held steady or increased a bit.

Looking at individual zip codes, Sterling’s 20164 is seeing the most market movement in the last week, with 14 new listings coming on, and 23 homes going under contract; by contrast Leesburg’s 20176 zip had 14 new listings as well, but only had 11 homes go under contract. The 20164 zip has the lowest median price in LoCo, at $221,969, so no wonder it is seeing huge numbers of contracts.  Every other zip code in the county has a median price of at least $485,000! Lowest average days on market for the county is in Sterling’s 20165 zip code, at 108. The average days on market for the county as a whole is 155 days.

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Single Family Home Inventory
Single Family Home Inventory
Townhome and Condo Inventory
Townhome and Condo Inventory
Median Single Family Home Price
Median Single Family Home Price
Median Townhome/Condo Price
Median Townhome/Condo Price

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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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