One Square Foot in LoCo…

The last time I took a look at median price per square foot in Loudoun County was back in March. Since then, it’s gone from a one year low of $157 a square foot to the current level of $160 a square foot. That movement would account for a price swing of $6,000 on a 2,000 square foot home.  (So, this is matching up with what we were seeing last week in terms of median price, huh?) Keep in mind that for these charts, we are looking only at single family homes.

Let’s peek to see if there are any differences between the towns across the county:

Median Price per square foot for Loudoun Single family homes

The first thing I notice that Sterling (in blue) has seen a significant gain since March, going from $155 a square foot up to $165.  Meanwhile, Ashburn (in black), after some fluctuation, is now about a dollar less a square foot than March. Purcellville and Leesburg are both under their March pricing, with Leesburg (in orange) down $2 a square foot, and Purcellville (green) down the most at $153 a square foot, about $4 a square foot less. Since the overall numbers for the county are at $160 a square foot, it looks like the majority of transactions are taking place in Sterling, where the price per square foot is higher.  It’s also logical to me that Sterling and Ashburn are more expensive per square foot than Leesburg and Purcellville, where the commuting times are longer.

Questions about market statistics specific to your neighborhood or home? Just ask, it’s what I’m here for.

Cheers,

Heather

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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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