Active Listings Build Up, Sales Slow: Loudoun Real Estate Report

LOUDOUN COUNTY, VA — Houses are staying on the market longer in Loudoun County, according to February's market report from the Dulles Area Association of Realtors. The report also noted that prices are slightly increasing and the number of new listings is dropping.

The Realtors association releases a market report each month that compares the month's sales activity to the same month a year ago. The February 2023 report compares market indicators from the area to data from February 2022.

Allan Marteney is the current president of the Dulles Area Association of Realtors. “We continue to see the housing market stabilize in Loudoun as prices and sales have steadied, but the lack of inventory remains a challenge with active and new listings still well below pre-pandemic levels," Marteney said. "There have not been this few new listings in the month of February in the county since 2000."

Across Loudoun County, sales dipped by 23.6 percent in February, according to the report. Ashburn and Sterling saw the steepest decrease in sales, while Chantilly saw a 19 percent increase.

The average price of homes is still growing, but at a slower rate than recent months. The county's median sale price in February was $630,000, a 0.3 percent increase over 2022's levels. Some Aldie and Chantilly saw prices decrease in February.

Meanwhile, the number of active listings is growing. There were 302 active listings at the end of February, an 80 percent jump from 2022.

"As we head into the spring market, we’ll certainly be keeping a close eye mortgage rates as a key factor in consumers deciding whether to enter the market," Marteney said.