July 2021 Home Sales

Northern Virginia July 2021 Home Sales:

The Northern Virginia market didn't look much different in July vs June but what about compared to July of last year? And what could be causing the differences? Listen to Terry answer that plus another common question we get:

Is August/end of summer a good time to sell? Hint - his answer is different this year! Watch the video below to find out...

Then take a look at the Northern Virginia July 2021 home sale stats below (be sure to click on the links at the end to get more information on some hyper local NOVA communities).

So, if you are thinking of buying or selling, contact us NOW (703-242-3975).

Northern Virginia July 2021 home sales:

• 4,099 homes went under contract in the region. This is down 6% from the same time period in 2020.

• 70% of the homes that went to settlement in July 2021, sold in 10 days or less from when they hit the market.

• Average sold price was $662,192 (up 7% from the same time period in 2020).

• 5,026 homes came on the market. That’s down 4% from July 2020.

• Homes that sold (closed) averaged 12 days on market 7 days faster than in July of 2020.

• There is currently a 0.9 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 3,693 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained an aggressive Seller’s Market. As with last month, we didn’t see a significant change in the monthly numbers from June to July, but we did see some slowing in the year-over-year numbers.