May 2021 Home Sales

Northern Virginia May 2021 Home Sales:

What is the Home Buyer Demand Index and what is it telling us about this hot Seller's Market? Watch the video below as Terry explains this statistic and what it MAY be telling us about our housing market.

Then take a look at the Northern Virginia May 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).

It is still so critical to work with an experienced agent whether you are buying or selling. The Belt Team has been in business for over 50 years and has the experience needed to navigate these waters. So, if you are thinking of buying or selling, contact us NOW (703-242-3975).

Northern Virginia May 2021 Home Sales:

• 5,186 homes went under contract in the region. This is up 38% from the same time period in 2020.

• 81% of the homes that went to settlement in May 2021, sold in 10 days or less from when they hit the market.

• Average sold price was $679,976 (up 18% from the same time period in 2020).

• 5,862 homes came on the market. That’s up 49% from May 2020.

• Homes that sold (closed) averaged 10 days on market, 7 days faster than in May of 2020.

• There is currently a 0.8 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 2,997 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained an aggressive Seller’s Market. We didn’t see a significant change in the numbers from April to May, but activity and average sold price were up double digits compared to this time last year (again, expected due to the pandemic). And low inventory levels remained an issue throughout the region.