Home sales last month in the Northern Virginia Association of Realtors footprint reached a 14-year high for April, according to an NVAR statement issued this week. The NVAR region covers Alexandria City, Arlington County, Fairfax County, Fairfax City and the City of Falls Church.
Buyers closed on 2,157 homes in April, the highest number of April total sales since 2005, when there were 2,514 homes sold in the region, according to the organization. Sales prices climbed to a record regional average of $621,069, six percent higher than the April 2018 average of $586,058. The pace of sales was also brisk, with homes selling within an average of 30 days on market in April. This was almost 35 percent below the average of 46 days in 2018. In Arlington County the average sale price climbed to $742,355, an 11.16 percent increase compared to April 2018. Multiple offers and escalating prices were more common than not in April, according to NVAR President Christine Richardson.
“Sellers and their Realtors were doing a great job of preparing their homes for sale and pricing them well, and buyers rewarded them with contracts at a remarkable average of 99.9 percent of the listed price,” she said.
Former NVAR Board Member Rob Wittman, with Keller Williams in Falls Church, says his newest listing received 20 offers and sold with a three-week closing for nine percent over the asking price.