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    Classified listings Homes section

    Uptick seen in Loudoun housing market

    The housing market is showing signs of a return, with year-over-year gains in both closed sales and new contracts, according to a report from the Dulles Area Association of Realtors.

    Median home sales as well were higher in every property segment. Home sales jumped 10.2 percent for the month of November over November 2013.

    The report attributed much of the uptick in sales to a rebound from an atypically down year last year caused by the federal government shutdown.

    Sales gains were actually quite modest, just one sale higher than the five-year November average.

    Loudoun recorded 520 new home listings last month, a 27.5 percent increase over last November, which keeps with the trend of new homes coming onto the market that began months ago.

    The inventory of homes to sell in Loudoun overall has grown every month, and with few exceptions, in most area codes of the county.

    Houses have also been staying on the market much longer, in some areas as much as twice as long, according to the report.

    Even though there are more homes on the market and they are taking longer to sell, median sales prices in November were 2.5 percent higher than the same month last year, and the highest November-level since 2007.

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