2020-08 -- Real Estate of Northern Virginia Market Report - August 2020 Market Trends - Michele Hudnall
This is a monthly report of the Northern Virginia Real Estate market. Weekly I post a video of current market conditions on Tuesday's and will post the monthly report by the 10th of each month as the numbers finalize in the MLS (Bright). The numbers come from the MLS (Bright), opinions are my own. This represents the market up to 5 Bedrooms keeping the numbers sub $1.5M and out of the luxury, custom market.
This is a monthly report of the Northern Virginia Real Estate market. Weekly I post a video of current market conditions on Tuesday's and will post the monthly report by the 10th of each month as the numbers finalize in the MLS (Bright).
The numbers come from the MLS (Bright), opinions are my own. This represents the market up to 5 Bedrooms keeping the numbers sub $1.5M and out of the luxury, custom market.
- TAGS
- falls-church-virginia
- alexandria-virginia
- manassas-virginia
- arlington-virginia
- fauquier-county
- real-estate-of-nva
- michele-hudnall
- nva-real-estate-trends
- nova-real-estate-trends
- northern-virginia-home-trends
- northern-virginia-home-prices
- fairfax-county
- prince-william-county
- northern-virginia-real-estate
- northern-virginia
- loudoun-county
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AUGUST <strong>2020</strong> NORTHERN VIRGINIA OVERVIEW ||<br />
|| SUMMARY<br />
NORTHERN VIRGINIA MARKET REVIEW<br />
DEMAND – SUPPLY – MARKET – VALUE<br />
MoM – YTD – YoY CHANGE<br />
NORTHERN VIRGINIA<br />
Active Listings 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 395 324 515 420 -18% 30% 6%<br />
Arlington, VA 478 312 625 538 -14% 72% 13%<br />
Fairfax City, VA 147 90 82 57 -30% -37% -61%<br />
Fairfax, VA 4,200 2,568 3,452 2,465 -29% -4% -41%<br />
Falls Church City, VA 28 15 38 17 -55% 13% -39%<br />
Loudoun, VA 2,120 1,302 1,667 1,172 -30% -10% -45%<br />
Prince William, VA 2,343 1,403 1,685 1,069 -37% -24% -54%<br />
New Listings 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 186 188 336 314 -7% 67% 69%<br />
Arlington, VA 227 178 399 350 -12% 97% 54%<br />
Fairfax City, VA 55 23 49 32 -35% 39% -42%<br />
Fairfax, VA 1,578 1,092 2,028 1,832 -10% 68% 16%<br />
Falls Church City, VA 10 7 22 21 -5% 200% 110%<br />
Loudoun, VA 698 546 958 818 -15% 50% 17%<br />
Prince William, VA 771 539 980 868 -11% 61% 13%<br />
Sold Listings 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 204 128 266 260 -2% 103% 27%<br />
Arlington, VA 235 138 257 269 5% 95% 14%<br />
Fairfax City, VA 42 15 39 35 -10% 133% -17%<br />
Fairfax, VA 1,456 771 1,748 1,624 -7% 111% 12%<br />
Falls Church City, VA 16 4 22 27 23% 575% 69%<br />
Loudoun, VA 667 310 852 766 -10% 147% 15%<br />
Prince William, VA 775 387 919 837 -9% 116% 8%<br />
Pending Listings 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 173 129 217 246 13% 91% 42%<br />
Arlington, VA 162 113 210 229 9% 103% 41%<br />
Fairfax City, VA 38 18 30 32 7% 78% -16%<br />
Fairfax, VA 1,145 713 1,350 1,376 2% 93% 20%<br />
Falls Church City, VA 9 2 11 17 55% 750% 89%<br />
Loudoun, VA 493 309 618 657 6% 113% 33%<br />
Prince William, VA 571 377 771 771 0% 105% 35%<br />
EOM 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 116 111 307 306 0% 176% 164%<br />
Arlington, VA 147 94 378 416 10% 343% 183%<br />
Fairfax City, VA 41 19 49 37 -24% 95% -10%<br />
Fairfax, VA 1,385 799 1,853 1,800 -3% 125% 30%<br />
Falls Church City, VA 11 8 20 15 -25% 88% 36%<br />
Loudoun, VA 648 354 960 843 -12% 138% 30%<br />
Prince William, VA 776 449 777 720 -7% 60% -7%<br />
AVG Median Sales Price2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA $ 505,500 $ 470,000 $ 616,500 $ 585,000 -5% 24% 16%<br />
Arlington, VA $ 582,500 $ 530,000 $ 681,500 $ 645,000 -5% 22% 11%<br />
Fairfax City, VA $ 582,450 $ 461,988 $ 632,000 $ 550,000 -13% 19% -6%<br />
Fairfax, VA $ 520,000 $ 515,000 $ 605,000 $ 570,000 -6% 11% 10%<br />
Falls Church City, VA $ 731,000 $ 475,000 $ 795,000 $ 635,000 -20% 34% -13%<br />
Loudoun, VA $ 515,000 $ 497,284 $ 561,750 $ 559,250 0% 12% 9%<br />
Prince William, VA $ 400,000 $ 365,000 $ 420,000 $ 426,500 2% 17% 7%<br />
AVG Months <strong>of</strong> Inventory 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 0.50 0.60 1.30 1.10 -15% 83% 120%<br />
Arlington, VA 0.60 0.50 1.70 1.60 -6% 220% 167%<br />
Fairfax City, VA 1.00 0.60 1.20 0.90 -25% 50% -10%<br />
Fairfax, VA 0.80 0.70 1.20 1.00 -17% 43% 25%<br />
Falls Church City, VA 0.50 0.80 2.20 0.70 -68% -13% 40%<br />
Loudoun, VA 0.80 0.70 1.30 1.00 -23% 43% 25%<br />
Prince William, VA 0.90 0.80 1.00 0.80 -20% 0% -11%<br />
AVG DOM 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Alexandria City, VA 17 31 15 12 -20% -61% -29%<br />
Arlington, VA 17 30 13 15 15% -50% -12%<br />
Fairfax City, VA 32 18 25 26 4% 44% -19%<br />
Fairfax, VA 22 33 17 15 -12% -55% -32%<br />
Falls Church City, VA 36 25 11 17 55% -32% -53%<br />
Loudoun, VA 23 35 20 16 -20% -54% -30%<br />
Prince William, VA 26 39 17 14 -18% -64% -46%<br />
AVG Median Sales<br />
Price to Orig List 2019/<strong>08</strong> <strong>2020</strong>/01 <strong>2020</strong>/07 <strong>2020</strong>/<strong>08</strong> MoM CHGYTD CHG YoY CHG<br />
Price<br />
Alexandria City, VA 105% 97% 116% 115% -1% 19% 10%<br />
Arlington, VA 100% 87% 109% 102% -6% 17% 2%<br />
Fairfax City, VA 101% 88% 113% 92% -18% 5% -9%<br />
Fairfax, VA 96% 90% 105% 104% -2% 16% 8%<br />
Falls Church City, VA 107% 63% 139% 85% -39% 34% -21%<br />
Loudoun, VA 97% 90% 102% 102% 0% 12% 5%<br />
Prince William, VA 103% 91% 99% 102% 3% 11% -1%<br />
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