April 2022 Home Sales

Northern Virginia April 2022 Home Sales:

The April market stats are in and sales were down but the market was up! Sales were down because inventory is still low but pricing continues to be very strong because there are still a large number of buyers in the market.

We are seeing a change in the market however, for the first time in a long time. Continue watching Terry below to find out what that is and what you should do if you are a buyer or seller.

All of the Northern Virginia stats for April are found at the bottom of this page along with links to some hyper local areas.

Northern Virginia April 2022 home sales:

• 4,135 homes went under contract in the region. This is down 16% from the same time period in 2021.

• 84% of the homes that went to settlement in April 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $728,442 (up 10% from the same time period in 2021).

• 5,247 homes came on the market. That’s down 16% from April 2021.

• Homes that sold (closed) averaged 9 days on market, 3 days faster than in April of 2021.

• There is currently a 0.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in the Northern Virginia – and 2,515 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained an aggressive Seller’s Market. Inventory increased again from the prior month but was down 14% year-over-year. Average sold price was in line with March and up from 2021.