Market Slowdown Underway In Loudoun County: Realtors Market Report

LOUDOUN COUNTY, VA — The housing market is beginning to cool in Loudoun County, according to the Dulles Area Association of Realtors' May market report. Home inventory was up in May while pending sales decreased.

Rich Blessing is the current president of the Dulles Area Association of Realtors. "With more than a 65 percent hike in inventory this month compared to last May, we’re seeing signs that the market is beginning to level out," Blessing said.

In May 2022, there were 464 active listings, according to the report. It represented a 67 percent increase over May 2021's listings. May 2022 was also the third consecutive month where the number of listings has grown in Loudoun County.

"Although the market is still far from balanced, the continued gains in supply are certainly a welcome sight for those in the homebuying process," Blessing said in a news release. "The market is always changing, which is why it’s absolutely imperative that both buyers and sellers turn to their knowledgeable Realtor for guidance and support."

The number of sales in May 2022 was 17 percent lower than the number of sales in 2021. Sales activity in Loudoun County has been trending downwards for nine straight months compared to 2021's record pace.

Still, home prices continue to grow. In May 2022, the median home sale price was $699,950. It represents an 11 percent increase over May 2021's prices.

More information about the May 2022 report and other real estate trends around Loudoun County is available online.