Strong gains have been a story across Northern Virginia including Loudoun County. Loudoun had the strongest year I would say compared to past few years. Both new construction and resale home were in high demand, especially in Aldie and Chantilly area. If you were in the market since the beginning of the year you know the houses came by and went away.
Facts about the Loudoun county mid-year 2017 real estate market:
- Highest Sales volume as seen in June
- Irrespective of the month most the sales to list price was close to 98%.
- Despite the rise in inventory by May & June market remain strong. Although June under contract slipped.
- Days on the market improved as we went from Winter market to spring market.
- The largest jump in the median sales price was seen from March($435000) to April ($505000).
As per Freedic Mac average interest rate was close to low 4%. As expected March saw a rise in the interest rate.
Ritu Desai is an Associate Broker with Samson Properties with over 13+ years and $100+ Million of real estate sales experience in residential real estate in the Fairfax and Loudoun county area of Northern Virginia area.