Loudoun County Real Estate Update

Peter Leonard-Morgan
Aug 4, 2022
2 min read

Latest real estate stats for Loudoun County are in for the second quarter of 2022, and reflect what we have been seeing in our local market, namely a slowdown in sales activity when compared to the frenetic situation a year ago, when buyers struggled to compete and sellers were receiving multiple offers with few or no contingencies.

Loudoun County Housing Market Q2 2022 v Q2 2021

Make no mistake, these figures do not suggest that we are in a down market, far from it; we are now seeing a more 'normal' situation where buyers are able once again to do their proper due diligence and ensure that they are getting what they're paying for.

In fact, the median selling price is UP by 11% YOY while average days on market are, albeit fractionally, lower YOY.

This week, I took an out of state client to view five properties which I had scheduled to show a week before, and all five were still actively for sale. Great news for buyers who need to plan ahead!

Loudoun County Real Estate Update

Mortgage rates have been on the rise, but in recent weeks we have seen those not only stabilizing, but falling back slightly. Depending on who you ask, a 30 year fixed rate jumbo loan over $642,200 is in the 5% region however various lenders can offer portfolio loans for less, usually with the borrower paying a point or so. Below that $642,200, rates are hovering around the 6.4% mark.

Click below for the full report, and contact yours truly for more information.

Whether you are considering buying or selling in Western Loudoun, Great Falls, Middleburg, or beyond — or simply wish to stay informed about this remarkable market — I would be delighted to hear from you. Reach me directly at (443) 254-5530, or use the Contact Form on my website. My approach is straightforward: clients come first, always.