Check out our video on the November 2024 Western Loudoun Real Estate Market Update!
Hi, I’m Diana Geremia, Realtor with Long and Foster! Today, I’m here with the latest Western Loudoun County real estate market update for November 2024.
Currently, there are 126 active and coming soon homes on the market in Western Loudoun, covering everything west of Leesburg.
A month ago, we had 104 active listings, so inventory has risen by around 20%. For pending sales, we had 30 under contract this past month, down from 46 the previous month, reflecting a bit of a seasonal slowdown in October.
In the last 30 days, 50 homes closed, compared to 48 the month prior. Remember, closed sales reflect homes that went under contract in September but closed in October.
Days on Market for newly contracted homes averaged 38 days this past month, holding steady from the previous 43-day average. Our market is stable with inventory up slightly, and an average Days on Market of just about a month!
We’re seeing homes close at around 96% of their listing price, down just a touch from 98% last month. This minor change shows a slight market softening, but it’s still a good time to buy or sell in Western Loudoun.
In Leesburg alone, there are 117 active listings, down slightly from last month’s 126 homes. Contracts in Leesburg dipped a bit, with 79 pending this month compared to 94 the month before. Overall, activity is holding steady.
Across all of Loudoun County, we have 533 active listings or coming soon, which is down 10% from 592 the previous month. Contracts fell slightly to 345 deals, down from 394, hinting again at a bit of a seasonal dip.
If you’re considering buying or selling in this market, expect a brisk pace with homes going under contract in just around 30 days. Pricing and home condition remain important to attract buyers.
If you have any questions, feel free to reach out! I’m Diana Geremia, your trusted Realtor with Long and Foster. I’m here to help you with any of your real estate needs. Thanks for checking in, and I’ll be back in another 30 days with more updates on the market here in Loudoun County!
