After a record shattering 2020, 2021 did not disappoint in Northern Virginia’s real estate market as homes in Loudoun County continue to appreciate and fly off the shelves at record rates. With the work-from-home culture here to stay, Northern Virginia is an ever increasing hotspot for buyers looking to turn in their city apartments for more space in the suburbs
At 15 West Homes—as we officially opened the doors to our brokerage and welcomed nine new realtors to our team in 2021—we were grateful to help more than 40 families either buy, sell, or rent a home this year, leading to nearly $23 million in total sales volume. Thank you to for your continued support of our team!
- Sales Volume = $22,933,885 (↑ 62% increase from 2020)
- Total transactions = 43 (↑ 34% increase from 2020)
- Buyers Served = 19 (↑ 19% increase from 2020)
- Sellers Served = 16 (↑ 60% increase from 2020)
- Renters Service = 8 (↑ 33% increase from 2020)
In 2022, we look forward to once again serving families joining us, saying goodbye to, and staying put in Northern Virginia, in a year that’s shaping up to be another hot seller’s market in Loudoun County as year-end inventory remains low.
The biggest challenge for buyers looking to move to Loudoun County in 2022 will be inventory. Over the last 20 years, there have only been 12 months where there were less than 500 active listings in Loudoun; 9 of those months were in 2021, and we can anticipate December being the 10th. This means buyers need to move quickly, while continuing to do their due diligence in terms of choosing the right home, making sure it’s inspected, and putting in a great offer.
On the flip side, sellers have a great opportunity to make some money on their real estate investments in 2022. Not only is inventory down and demand up, prices are soaring. Through November 2021, the monthly median sales price in Loudoun County was up nearly $60,000 versus 2020. Additionally, offers are coming in quickly as homes are lasting a mere 13 days on the market on average in 2021 compared to 18 days in 2020 and 41 days in 2019.
All indications for the foreseeable future show that homes in Loudoun County will continue to sell. Low mortgage rates paired with the need for additional space in the suburbs, makes Loudoun an ideal location for families looking to move on from city life and take in the great outdoors.
Whether you’re looking to move to Loudoun County and enjoy the many things our community has to offer or you’re looking to move even further out of Washington, D.C.’s metropolitan region, 15 West Homes is here to help you whether you’re selling, buying, renting, or staying put.