Sterling Park Leads Loudoun County in Home Buyer Demand

When looking at supply and demand figures for Loudoun County, something jumped out at me… The 20164 zip code (Sterling Park) has the most home buyer demand out of any zip code in Loudoun County – and not just by a little.

Since March 1st, 102 homes have gone under contract (sold) in the 20164 zip code (Sterling Park). That equals 3.9 homes that sell each day.

The 20176 zip code (North and East Leesburg) came in second at 2.7 per day. That's 31 percent less buyer demand than in Sterling Park.

The lowest buyer demand can be found in the 20166 zip code (part of Sterling closest to Dulles Airport and Herndon) at 0.5 per day. That's 87 percent less buyer demand than in Sterling Park.

You may be thinking, "There are more homes for sale in Sterling Park than in other areas so of course there's going to be more buyer demand".

That doesn't hold true because Sterling Park has 200 active homes on the market as of today while second place 20176 has 387 – almost double. And two other zip codes also have more inventory on the market than Sterling Park - 20147 has 233 active homes on the market and 20175 has 206.

So why does Sterling Park lead Loudoun County in home buyer demand?

A big part is due to the price point – the lower the price point, the more people can afford to buy there. The median sold price in Sterling Park is $160,000 and the average sold price is $194,833 (the median sold price is a better gauge of market values/prices in Sterling Park). That's well below the overall Loudoun County median sales price of $223,750 and average sales price of $306,821.

If you're curious as to how other zip codes and areas in Loudoun are doing when it comes to supply and demand, check back soon – I'll be writing a post about that over the weekend.