Inside Loudoun Trends: Single Family Detached Prices

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Loudoun Single Family Detached Home Prices

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December 7, 2007

November year over year price decline is approximately 12% with a 15% decline since January of 2006. Inventories remain high and demand has diminished considerably since the summer. We may not have all the foreclosures and bank owned properties reflected in the numbers. I suspect January will show another rapid rise in inventory as this hardship cases come back on the market. The gap is getting wider between Original List Price and Sold price which is typical during the late fall/winter months.


Up until the 2006 assessment, a general rule of thumb was that the assessed value was approximately 70 to 80% of the market value. You can see in the chart how that is changing. It is now running 100% +/- 5%. The Loudoun County Assessor just announced that assessments for 2007 will remain about flat because of 2006 declining sales prices. Also, the MLS does not update the assessed values from each county at the same time. We will keep a watchful eye on these trends.

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