Median Sales Price 2011 05Posted: June 29, 2011
The Loudoun County median sales price advanced for the fourth consecutive month in May (+3 percent). May’s median of $380,000 was the highest monthly median in the last eight months. For comparison sake, the 2010 annual median sales price in Loudoun County was $365,000, but the 2011 year-to-date median advanced from $355,000 in April to $362,000 in May, finally exceeding the annual median in 2010 of $359,900.
Leesburg’s median advanced 1 percent to $400,000 in May from $395,000 in April. Eastern Loudoun also posted an increase, from a revised $349,500 to $355,000 (+2 percent). The median in Western Loudoun soared 5 percent in May to $435,000 from a revised $414,000 in April.
Loudoun’s median sales price has recovered from the trough in early 2011 and has exceeded the median in the corresponding month in 2010 for two consecutive months.
The median sales price is determined by sorting all sales in ascending order by close price and finding the one in the middle. Therefore, 50 percent of the sales sold for less than the median and 50 percent sold for more than the median.