We all are excited to Ring in 2020 the beginning of NEW DECADE! Here is a reflection of the past decade of the housing market in the Northern Virginia Loudoun County area includes cities: Ashburn, Aldie, Leesburg, Sterling, Chantilly, South Riding, Brambleton, Broadlands, Dulles, Lovettsville, Hamilton, Hillsboro, Middleburg, Paeonian Springs, Round Hill, Philomont, Purcellville and Waterford.
The Population in Loudoun county:
The average household income in Virginia:
$60000 (2009) and
The average unemployment rate in Virginia:
6.7% (2009) (Financial meltdown + Recession)
3% (2018) may be lower in 2019?
Loudoun is considered to be the richest and fastest-growing county in the country. Adding to this the high income, low-interest rates and affordable monthly payment (principal & interest in the chart with a 20% downpayment) if you adjust the inflation and rent prices in the area we can confidently say homeownership in the Loudoun County of Northern Virginia was a savvy investment in two decades.
The 2020 era will continue high paying jobs in the region, low-interest rate, and tight inventory. Even though Loudoun Metro is still a dream, traffic congestion is horrendous and most of our taxpayers’ money is funding new schools and infrastructure. Loudoun is still considering to be the most sought after county to live in the DC Metro area. If offers numerous perks, parks, things to do, wineries, and high ranking school system essentially a suburb that offers work-life balance.
Ritu Desai is a local real estate agent/Associate broker serving Northern Virginia real estate market for over 15 years area include in Mclean, Vienna, Fairfax, Arlington, Alexandria, Falls Church, Oakton, Oak Hill, Herndon, Reston, Ashburn, Sterling, Leesburg, Chantilly, South Riding, Centreville, Potomac Falls, Great Falls.