Posts in category 'Buyers'

Home Prices Trend Up in April
April Prices Increased 4.9% from March: The median home price in Northern Virginia continued to trend up hitting a new high of $645,000, adding another $30,000 to last month's $615,000 median price. All major sub-markets in Northern Virginia increased in price with Loudoun leading at 6%, Fairfax (5%) and Prince William (1%). Arlington was the only sub-market declining in April (-1%).

The unrelenting increase in int...

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Prices Trend Up, Near 2021 Highs
February Prices Trend Up, Still Below 2021 Highs: Overall, the median price of a Northern Virginia home spiked 7.5% during February. All sub-markets moved up during the month, except Prince William which was flat. The Northern Virginia median price remains 5% ($28,000) below the May 2021 high ($603,000). Inventory remains low, but new listings in February dramatically improved from down 22% last month to down only 3% in February. Active listings continue markedly down compared to last year (-38%), meaning new listings are quickly going under contract producing low days on market and contract terms that he...

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1. January Prices Flat Overall: Overall, the median price of Northern Virginia homes fell 3.6% during the one month from December 2021 to January 2022. Inventory remains low. New listings in January were down 22% from the same month last year. This is producing low days on market and contract terms and conditions that heavily favor sellers.
   
   
2. Much of the Price Strength Remains in Detached Homes: There are dramatic differences in price movement between home types...

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1. NoVa Prices Finished Strong in 2021: This was especially the case for homes located in the suburbs. On an average sales price basis, the top three appreciating sub-markets were Loudoun (13%), Prince William (13%) and Fauquier (12%). Homes closest to D.C. experienced the slowest price movement in 2021 with Alexandria (1%) and Arlington (0%) lagging the most in Northern Virginia.
   
   
2. Con...

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1. NoVa Prices Relatively Flat in November: Overall, prices in Northern Virginia fell 1.4% in November led by Fairfax County (-4.4%). Conversely, prices in Arlington County increased 4.5% in November with Prince William (1.7%) and Loudoun (-1.3%) relatively steady. Easing home prices since the May highs have continued to firm since September setting up a promising start to the 2022 market.
   
   

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