Northern Virginia Home Sales Activity 2018

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.

NoVa 2018

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