We’ve been following the luxury market in Loudoun on our blog since 2010, writing yearly wrap-ups of the most expensive homes sold. (I even wrote about it for the Washington Post’s real estate column.) As the ‘richest county in the country‘ by household income, you’d think that we’d have a large volume of multi-million dollar homes, but that’s frankly not typically the case. While our median home price definitely trends higher than most of the country, we don’t see many jaw dropping home prices here. From 2010 to 2019, we averaged just 9.5 home sales a year priced $2 million and up.
Last Year The Loudoun Luxury Market Exploded
And then 2020 came, with the most robust luxury market that Loudoun County has seen in recent memory. A shocking 374 homes sold in 2020 over the $1 million mark, an increase of 70% over 2019. There were 30 homes sold for over $2 million, up from just 13 the year before. So despite the challenges of making a move during the pandemic, the luxury market in Loudoun was robust. And it’s not showing any signs of slowing down- there are six properties currently under contract priced over $3 million in Loudoun, and 50 under contract or already closed in the $1-$3 million range this year. Oh, and the average days on market for a multi-million dollar home in Loudoun dropped by half, from 262 days in 2019 to 133 days in 2020. (To be clear, though, nearly half of those 2020 sales were less than 30 days from listing to contract.)
We usually say that the luxury market operates differently than the rest of the Loudoun market, but not last year. There are ‘only’ 38 homes on the market in Loudoun priced over a million right now. At the current pace, that’s 2.5 months of inventory- leaning into a seller’s market. Bonkers. If you own a luxury property and are thinking this might be a good time to test the market out, give us a call. We just put one under contract in under 48 hours last week.
You came for the houses, right? Not the stats. So here’s the eye candy, the top of the market for Loudoun County last year. Without further analysis and ado, here are the five most expensive homes that sold in Loudoun County in 2020:
#5: 20561 Trappe Rd, Upperville: $3,700,000
Trappe Hill Farm is made up of 5 parcels, combining for a 474 acre estate. Features of the home, built in 1960, include a main level primary bedroom suite, wood paneled library, formal rooms, coffered and beamed ceilings, hardwood floors, numerous fireplaces, and stone terrace. The property includes scenic views, 3 tenant houses, stable (which includes 13 stalls, wash stall, office and 1 bedroom apartment,) 4 bay machine shop, fenced paddocks, and 11 run-in sheds. Agents from Middleburg Real Estate represented both sides of the transaction, with Peter Pejacsevich on the listing side and Emily Johnson on the buying side.
#4: 33024 Sunken Lane, Upperville: $3,750,000
This home, the Oakfield Farm manor house, actually appeared on our 2015 list, too, in the #3 spot. The home sits on more than 85 acres and was built in 1890, including circular staircase, 5 bedrooms, 5 full and 3 half baths, 3 fireplaces, elevator, gourmet kitchen, and a pine-paneled den with wet bar. The property features scenic views, a beautiful tree lined gravel drive, stone patio, a renovated tenant house, horse stable, riding ring, two ponds, and a heated salt water pool. The seller was represented by Ted Zimmerman of Middleburg Real Estate, and the Peter Pejacsevich, also of Middleburg Real Estate, represented the buyer.
#3: 22941 Foxcroft Road, Middleburg: $4,300,000
Stonyhurst is an historic stone manor house in Middleburg, built in the 1890s in the American colonial revival style, and recently renovated to restore it to its original beauty. The estate’s 94 acres were placed into conservation easement; in perpetuity, it may only be subdivided once, with the construction of just one additional residence. The grounds include stone retaining walls, a pool, a bank barn, and a cottage/tenant house. The listing didn’t include many photographs or details on the home itself, so we are left to imagine what the award-winning restoration looked like. The home was listed for sale by Peter Leonard-Morgan of Hunt Country Sotheby’s International Realty, while Barbara Dugger of Century 21 Redwood Realty represented the purchaser.
#2: 22781 Creighton Farms Drive, Leesburg: $5,500,000
There are plenty of amazing homes in Creighton Farms, but this is one of the more exceptional ones. The home was designed and built by The Galileo Group on a 3+ acre premium lot with mountain, water, and golf course views. I can’t wrap my head around how big this home is: over 18,000 finished square feet! There are only 6 other homes of that size in all of Loudoun County. The luxury amenities include 8 bedrooms, 9 full and 4 half baths, exercise room on the bedroom level, geothermal heating and cooling, 6 car garage with carriage house, elevator, gunite pool, pool house with full bath, gazebo with fireplace, lighted sport court, and outdoor kitchen. The home was listed by Bill Davis of C21 New Millennium, and Jane Morrison of Keller Williams represented the purchaser.
And the most expensive home sold in Loudoun in 2020?
#1: 3352 Newstead Lane, Upperville: $9,500,000
Newstead Farm, an equestrian estate, sits on more than 350 acres in Upperville hunt country, with a 1800s era restored stone and stucco manor home. The home features 6 bedrooms, 7 full and 2 half baths, grand salon, library, formal rooms, music room, private offices, work out area, wine room, and in-law suite. The grounds are surrounded by thousands of conservation acres, and include formal gardens, koi ponds, outdoor heated swimming pool, 2 guest houses, 6 tenant houses, and a large office. The extensive equestrian facilities include 6 barns (61 total stalls and a show barn), a certified quarantine facility, multiple arenas, 10 fields, and 16 paddocks. The property is protected by a Virginia Outdoor Foundation Conservation Easement. Kathryn Harrell of Washington Fine Properties represented the seller, and Laura Farrell of TTR Sotheby’s International Realty represented the purchaser.
(Noting that there was a $5,595,000 sale in Upperville that was a working cattle farm on over 1500 acres, and a $4 million sale for a 39 acre subdivision with a single home in Centreville- neither really qualified as a luxury home for this list but deserve mention for their sale prices.)
View All Loudoun Luxury Homes