January 2021 Home Sales

Northern Virginia January 2021 Home Sales:

Happy New Year! While it's cold and snowy outside, the real estate market is HOT! How hot you ask? Well, we are seeing things like buyers purchasing homes sight unseen...crazy! The January stats for the Northern Virginia market are below. Then click the January 2021 links at the bottom to see more details on some of our hyper-local areas.

And, if you are thinking of buying or selling, contact us NOW (703-242-3975). It is very important to work with an experienced agent that will provide you with the data you need to make good decisions to help you navigate this type of market. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly.

• 2,897 homes went under contract in the region. This is up 18% from the same time period in 2020.

• 54% of the homes that went to settlement in January 2021, sold in 10 days or less from when they hit the market.

• Average sold price was $592,787 (up 5% from the same time period in 2020).

• 3,144 homes came on the market. That’s up 8% from January 2020.

• Homes that sold (closed) averaged 21 days on market, 15 days faster than in January of 2020.

• There is currently a 0.6 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 2,092 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained a Seller’s Market. Market activity in the region was up from December and continued to be up year-over-year. Average sold prices were up from last year and low inventory remains to be a very big issue.