Today I wanted to bring you some data on what is happening in the western part of Loudoun County. It’s no secret that the market adjusts the further west you go; the commuting time gets longer to employment hubs in Dulles, Tysons Corner, and Washington DC, but the home prices are lower, so you get more house for your money the further you are willing to drive. Typically what we see when the market starts to adjust, is that it’s like a pebble in the pond, rippling out from DC to points further away. While Fairfax County saw recovery faster than Loudoun, the eastern part of Loudoun County, in Sterling, Ashburn, and Leesburg, have now stabilized and are seeing median price increases and low inventory. In western Loudoun, Hamilton has stabilized in price (no increase yet) but Purcellville, Round Hill, and Lovettsville are still showing median price decline for single family homes. Inventory in the western part of the county is just as low as in the east. Hopefully in the coming weeks we will see these graphs start to behave like the ones I posted last week for the eastern part of the county.
For comparison’s sake, here’s single family home median prices in Leesburg:
However, as you start to move west across the county, here’s what you find:
If you would like more information about a specific area, head over to our Market Stats page and you can hone in on any zip code you are interested in.
Cheers,
Heather
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