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January Real Estate Market Update For Loudoun County
FROM DULLES AREA ASSOCIATION OF REALTORS | JANUARY 2016 REAL ESTATE REPORT
Loudoun County’s January median sales price of $439,000 was 7.1 percent higher than last year.
Total sales volume across the county was nearly $158 million, up 17.7 percent from last January which had a little more than $134 million in dollar volume.
Closed sales increased 14.7 percent from last year, marking the 12th time in 13 months with sales gains.
The number of new contracts in January fell by 4.6 percent, the first decline in 16 months and likely related to the late January snowstorm.
New listings were down 10.0% from last January, the most significant year-over-year decline since early 2013, also related to the bad weather.
For the seventh consecutive month, inventory at month’s end is lower than the same point last year. The 12.9 percent drop-off is the largest year-over-year decline recorded over that seven-month stretch.
Half the homes sold in January were on market 51 days or less, a nine-day improvement from last January’s median DOM of 60 days.
Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Currently, she serves as a REALTOR at eXp Realty, LLC. As a life-long resident of Virginia, Melody has....