Last week, Northern Virginia real estate market numbers came out for September. As predicted the statistics fell more in line with fall stats of 2019 and 2018.
In Arlington County, the median sold price of homes in September fell compared to last year, as did the total homes sold. However, active listings increased. This is giving buyers in the area a little breathing room.
We would still consider this a competitive market, but not 2020 competitive. It’s usually what we call “cream puffs” that still get multiple offers. Buyers have become picky, there are homes that don’t fly off the shelf. Now is actually a good time to be a buyer in Arlington!
Fairfax County detached days on market numbers were up from last year, however, I’ve still seen homes in sought after neighborhoods that are well presented, well-priced going under contract in just a handful of days and often over asking price. In general, for this area of Northern Virginia, the supply numbers have not bounced back as much as other pockets of the region.
Falls Church City
It’s nice to see Falls Church City numbers in the positive when it comes to supply and closed sales giving buyers to this charming town more hope going into the beautiful fall months.
Unlike the other 3 regions in Northern Virginia, Alexandria City was a bit of a mixed bag last month, especially when comparing each property type. Median price is down for detached and condo, however, up for townhomes. Supply is down for detached and townhomes, but up for condos. Closed sales were down across all property types.