Watch the video above for the latest luxury market update in Loudoun County. If you prefer reading, the full transcript is provided below:
Luxury Real Estate Market Update for Loudoun County – Homes Priced Above $1.4 Million
Currently, there are 100 active and coming soon properties on the market in this price range, which is consistent with the 102 properties from 30 days ago, indicating stable inventory levels. Over the past 30 days, 30 homes have gone under contract or pending, slightly down from 31 in the previous 30 days. We had 32 closed sales in the last 30 days, compared to 28 in the preceding month, showing steady activity.
The average days on market for homes in this segment is currently 24 days, down from 27 days a month ago, reflecting quicker transactions. Half of the homes sold at or above the asking price, with the other half below. However, sellers are receiving close to 100% of their asking price on average.
In Western Loudoun County, there are 49 homes listed above $1.4 million, up from 42 last month—a 20% increase in inventory. Under contract and pending sales remained steady, with 10 homes in the last 30 days compared to 11 the previous month. Closed sales were stable as well, with 9 homes sold in the last 30 days and 10 in the prior period.
The average days on market in this area decreased from 49 in September to 41 days, signaling faster transactions. Sellers continue to receive between 98% to 100% of their list price, indicating a strong luxury market in Loudoun County.
If your home is valued at over $1.4 million, this is important information to consider. Stay tuned for monthly updates or check back with us for the latest insights. I'm Diana Geremia with Long and Foster, and I'm here to assist you with all your real estate needs.
