May Market Update for LOCO

June 23, 2023

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It’s no surprise we are still low on inventory. Prices have seem to stay up and days on market are coming down for some areas.  Overall, Loudoun County has 0.8 months of inventory, which is extremely low, a balanced market has 4-6 months of inventory.  The rental market is also very competitive. So if your lease is coming to and end soon, you might want to start earlier than usual to find your new place or see if you can renew your lease with  your current landlord.

Typically, we see a slow down in the summer months when people go on vacation, so we’re anxiously waiting to see what happens.  We are hoping interest rates come down and the fall market will be a strong one.