Northern Virginia – Jan. 12, 2019 – Home sales in the Northern Virginia region continued a brisk pace in 2018. The total dollar volume sold of $20.2 billion in 2018 was nearly unchanged from the same robust level sold the previous year ($20.3 billion). There were 38,094 homes sold in 2018, down from the 39,380 homes sold in 2017 (-3.27%).
Northern Virginia home sales are spread out among 600+ subdivisions like The Ridges of Glendilough in Fairfax, Singleton’s Grove in Centreville, the Broadlands in Ashburn, and Stonegate in the City of Alexandria just to name a few. Each subdivision has its own unique selling characteristics and sub-market statistics that feed into the total Northern Virginia market statistics you see here. Even with the 1,286 fewer homes sold in 2018, the total dollar volume in the Northern Virginia region was nearly unchanged from 2017 due to the increase in the average sold price. In 2018, the average sold price was $530,841 compared to $515,716 during the previous year – an increase of 2.93%.
The Northern Virginia region experienced significant improvement in terms of days on market (DOM). DOM measures the speed to a contract, or transaction velocity. In 2018, like the increasing sold prices, the market moved in favor of sellers clocking an average of 57 days, down from 71 days experienced the previous year. This decrease of 14 days is a 20% improvement in the speed to a contract.
The table below illustrates the specific activity experienced in the Northern Virginia Region – 2018 as compared to 2017.
“It is with much enthusiasm that we share with you our thoughts about Tim Trainum. He his the most knowledgeable and informed real estate agent with whom we have ever dealt. Over the last 45 years we have bought and sold a combination of 26 homes, condos, and multi-family apartment buildings in Fairfax, Arlington and other parts of the country. Tim is without a doubt the complete package. He did everything we asked him to do. He gave us great information and advice and kept us informed as to his progress day by day. We highly recommend him.” – Dean and Mary Simonds
I am a high-value agent who delivers demonstrably useful results to my clients. I operate my business with relationship-focused interaction that aligns client goals with beneficial outcomes. I have an unyielding commitment to being an open and honest advocate, ensuring my clients reach their desired outcome efficiently and with the most equity. My overarching passion in real estate is to join your buying and selling journey and help improve your quality of life.
I am a full-time, licensed Realtor® who has established deep roots and knows the region. I was born and raised in the Northern Virginia area, graduating from Chantilly High School and then James Madison University with degrees in Economics and Finance. I live in Fairfax with my wife Liz and our seven year old son Robby. I’m a homeowner myself and understand the important decisions my clients face when they’re buying or selling a home. In addition, I’m an owner of investment property, including a multi-family apartment buildings. I have a penchant for helping people having taught adult education courses in investing and personal finance, and helped numerous clients, friends and colleagues in creating a path to wealth creation. I also serve as the trustee for a private charitable memorial fund.
I have been working in the real estate industry helping clients for over 25 years. As a Listing Agent, the value I create for my sellers is to help them elevate and showcase home condition. I use multiple valuation techniques to pinpoint market value for my sellers. I use cutting-edge marketing strategies to promote widespread buyer awareness and produce the maximum selling price in the fewest days possible, while protecting my seller’s best interests throughout the complete selling and settlement process. As a Buyer’s Agent, I help my buyers locate the home that changes their life. I guide my buyers in structuring the most compelling offer that can win seller acceptance, while retaining the most value and equity possible for buyer benefit and in a manner that protects their best interests throughout the complete buying and settlement process. I have worked with clients in the purchase of investment property, helping them to prospect property as well as evaluate all the financial metrics important to making the investment. My real estate experience includes working in the development, construction and operation of real estate infrastructure projects, closing over $500 million, as well as supporting several commercial real estate clients in the pursuit of reaching their objectives. My experience spans across consulting with clients on remodeling and home improvement projects to negotiating land purchase agreements and easements, to negotiating residential and commercial leases. There are few areas of real estate that I haven’t touched and it continually has been with a mind-set of delivering exceptional outcomes.