January 2022
Data representative of residential real estate in Loudoun County
Please reach out for details about other counties. Our office is in Loudoun, so this report is a very localized one, even though our client base spans many counties and areas of Virginia, as well as property types (such as land).
GENERAL STATS:
It's probably not a surprise when we share the inventory for available residential homes to purchase remained low during the month of January. Buyers continue to face heavy competition, with roughly 8% of homes going under contract during the "coming soon" status, and most having ratified contracts within 10 days of listing. We are also seeing that contracts are coming in slightly above list price.
| Jan 2022 | Jan 2021 | % Change | |
|---|---|---|---|
| Active Listings | 169 | 217 | -22.12% |
| New Listings | 424 | 536 | -20.90 |
WHAT'S SELLING:
Attached, detached, and condos are the focus of this particular report. The largest segment of sales were from 4+ bedroom, detached homes. The average selling price for 4+ bedrooms was up 21.18% from $803,521 to $973,729 as compared to January 2021.
FINANCING:
279 homes in total went to closing in January. We are often asked about financing, and the new Smart Chart Market Reports allow us to see and share the sources:
| Assumption | 0 |
|---|---|
| Cash | 23 |
| Conventional | 224 |
| FHA | 10 |
| Other | 1 |
| Owner Financing | 0 |
| VA | 21 |
