Home Sales Continue To Slow As Prices Rise: Loudoun Market Report

LOUDOUN COUNTY, VA — Buying a home isn't getting any more affordable in Loudoun County. The most recent market report from the Dulles Area Association of Realtors shows home prices continuing to climb as the number of sales slows down.

From October 2021 to October 2022, home prices rose by 7.4 percent, according to the report. However, the number of sales dropped by 37 percent.

Amanda Brewer is the CEO of the Dulles Area Association of Realtors.

"While the Loudoun County housing market continues to see the effects of rising interest rates, among other factors, it may be surprising to some that home prices continued to trend upward slightly in October indicating that housing demand is still present across the county,” Brewer said in a news release. “However, as many prospective homebuyers wait to see what happens with economic and market conditions, overall sales are down significantly providing for higher inventory levels and a quieter market overall."

Zip codes in Aldie, Leesburg, and Chantilly saw the steepest growth in home prices from October 2021 to October 2022. Sale prices in Aldie and Leesburg grew by 39.5 percent, while prices in Chantilly rose by 22 percent.

The supply of available homes has continued to rise. There were 202 more Loudoun listing in October 2022 when compared to October 2021. Listings in Leesburg grew by 129 percent, according to the market report.

More details about the state of Loudoun County's real estate market is available on the Dulles Area Association of Realtors' website.