Loudoun homes prices jump slightly in June

The median sale price last month was $340,000, five percent higher than May and the highest since August 2008, according to a report released by the Dulles Area Association of Realtors. Since January, the median price in Loudoun has risen 17 percent. However, prices are still down 5 percent from June 2008.

As for more evidence the local housing market is showing improvement, the average amount of time homes are now sitting on the market is about 71 days, the shortest span since May 2006.

Also, according to the report, 45 percent of all homes sales in Loudoun were foreclosures or short sales in June. In comparison, distressed properties accounted for 49 percent of all sales in May.

Currently, Loudoun has a 3 1/2-month supply of homes on the market, down from a nearly 7-month supply a year ago, the report said.