top of page
Chrissie Goodrum

Loudoun County 2023 Second Quarter Real Estate Market Update

Updated: Apr 25

Before highlighting quarterly Real Estate sales statistics for Loudoun County (with specific focus on zip code 20176), I am spotlighting one of the (many) reasons this area is such a great place to live: "Polo in the Park", aka, #BestPartyinLoudoun at Morven Park International Equestrian Center, on the northwest edge of the Town of Leesburg. Morven Park hosts Polo matches Saturday evenings during June and July. My brokerage, Hunt Country Sotheby's International Realty, has a tailgate spot for this season!

Even those of us with limited knowledge of polo are able to enjoy this sport - it's more of a social event than anything else!



Whether you want to dress up and go out for date night, or bring young kids to run around relatively care free, there is something for everyone to enjoy at the #BestPartyinLoudoun this summer at Polo in the Park. In between matches, spectators are invited to the rail to chat with riders and even pet horses! Visitors are encouraged to tailgate with their own food and beverages (yes, alcohol is allowed on the premises), or take advantage of the many vendors/food trucks on site, including Kovi Kitchen, Walsh Family Winery, and Hershey's Ice Cream Truck! I'll be hosting at our tailgate spot on July 15th and July 22nd and will try to learn a few more vocabulary words beyond "Chukkers" so I can seem a little more "seasoned" as a polo spectator. Parking passes are available in advance of each match and cost $40 per car (entrance to parking is off Tutt Lane versus Old Waterford Road). To minimize distractions to the horses and riders, spectators are asked to leave their own 4-legged pets at home.


Check out the YouTube video below for some great video of the match and some gorgeous shots of the sunset and the crowds!!



Q2 2023 Real Estate Market Review:


Generally speaking, for the second quarter of 2023, sales volume in this area (Lucketts) has been lower than in prior years - and this comports with activity throughout the county.


While the overall area experienced lower sales volume, the price of homes sold continued to hold strong.




Below are sales summaries for three of the largest neighborhoods within the Catoctin District, looking back over the past 12 months:




If you can't read the very tiny font in the pictures above, here are the key take-aways:

  • Village Green (314 homes) - is the largest HOA community along the Route 15 North Corridor and is about 15 minutes to the north of the incorporated Town of Leesburg. For the 12 month period ended 6/30/2023,

    • 10 homes sold

    • Median sales price:$765,000

    • Median days on the market: 9


  • Selma Estates (283 homes) - is the second largest HOA community along the Route 15 North Corridor and is about 7 minutes to the north of the incorporated Town of Leesburg. For the 12 month time period ended 6/30/2023,

    • 13 homes sold

    • Median sales price: $1,000,000

    • Median days on the market: 27


  • Raspberry Falls (201 homes) - is the third largest HOA community along the Route 15 North Corridor and is about 3 minutes to the north of the incorporated Town of Leesburg. For the past three years, I've been the top listing agent in Raspberry Falls and have sold 4 homes in the neighborhood in the past year, as pictured below. For the 12 month time period ended 6/30/2023,

    • 7 homes sold in this community

    • Median sales price: $1,195,000

    • Median days on the market: 12



There are many other neighborhoods, farms, and undeveloped land in this beautiful area, so if you live outside of the communities I just highlighted and want more information on comparables, please reach out! I love data analysis, touring properties, and talking to other listing agents and appraisers, alike!

30 Year Mortgage Rate

Beyond home sales, the biggest news in real estate has been INTEREST RATES. What more can I say than they seem high and that is making a lot of buyers frustrated and sellers a bit nervous. However, like the tide, rates rise and fall. The need for good homes remains strong in our area - after all, the population of Loudoun County has more than doubled in 20 yearsĀ (compare: 2001 population of 189,910 people to 2021 population of 427,592 people).


My advice to people looking to purchase properties is to connect with a good mortgage loan officer and/or financial advisor, to figure out your best strategy to making a sound purchase. There are a lot of different loan programs available that may make someone's aspiration turn into their realization!!!



If you're thinking about making a move in Q3 or after, please reach out! I'd love to chat with you about real estate as well as all of the amenities and attractions that make a house worth buying in this area great - including proximity to events like Polo in the Park!!!


If you're on YouTube, please check out my page here to get all my latest updates and videos:


Youtube Subscribe

And you'll find all this and much more on my Facebook page below!





Comments


bottom of page