2020-12 -- Real Estate of Northern Virginia Market Report - December 2020 Real Estate Trends - Michele Hudnall

|| NORTHERN VIRGINIA OVERVIEW NOVEMBER 2020
NORTHERN VIRGINIA
Year Over Year
DECEMBER
Number
of Sales
YoY Chg
Sales
AVG DOM
YoY Chg
DOM
AVG Sale
to Orig
List Ratio
YoY Chg
Price
Ratio
AVG Close
Price
YoY Chg
Close
Price
2019 2,592 29 98.30% $ 522,871
2020 3,326 28.32% 19 -35.32% 99.58% 1.29% $ 551,969 5.57%
Alexandria City, VA 214 24.42% 22 9.27% 98.49% 0.30% $ 570,782 0.14%
Arlington, VA 242 28.04% 28 10.16% 97.82% -0.65% $ 651,622 5.70%
Fairfax City, VA 28 -15.15% 19 -49.60% 99.69% 2.11% $ 575,275 4.83%
Fairfax, VA 1,303 24.81% 18 -34.87% 99.47% 1.31% $ 594,042 4.45%
Falls Church City, VA 9 12.50% 31 2.48% 97.85% -0.19% $ 563,789 -25.00%
Fauquier, VA 121 55.13% 45 -21.03% 97.51% 2.04% $ 493,847 4.99%
Loudoun, VA 610 31.75% 17 -45.52% 100.26% 1.27% $ 575,651 6.47%
Manassas City, VA 69 15.00% 18 -23.42% 100.41% 1.93% $ 350,630 0.09%
Manassas Park City, VA 24 100.00% 11 -73.50% 98.58% 2.75% $ 348,971 14.61%
Prince William, VA 706 32.46% 13 -56.19% 100.80% 2.46% $ 449,461 13.46%
NORTHERN VIRGINIA
YTD AVGs with
Change % YoY
DECEMBER
Number
of Sales
YTD YoY
Chg Sales
AVG DOM
The traditional measure of looking at change on a Year-Over-Year basis to see how the year is going and how it compares to
the same month of the previous year is not comparing apples to apples currently. Even with the disruption this year, this has
been a fair measure until September.
The market is still very active over previous years when the market tends to seasonally cool. Now that folks are working and
learning from home, the market continues to be very active creating what I would call “hype news” regarding percentages of
change in volume and price, however, price represents current conditions.
I have added a YoY YTD measure of change to compare the current year to the previous year that you will only find in this report.
The YoY YTD measure is a comparison of January to the current month of the previous year to January to the current month of
the current year to check the year as a whole against the previous year given the shifting, seasonal market.
- 2 -
YTD YoY
Chg DOM
AVG Sale
to Orig
List Ratio
YTD YoY
Chg Price
Ratio
AVG Close
Price
YTD YoY
Chg Close
Price
2019 36,734 25 89.11% $ 516,871
2020 39,449 7.39% 18 -25.13% 99.68% 11.86% $ 551,094 6.62%
Alexandria City, VA 2,466 6.16% 16 -8.76% 99.22% -0.16% $ 581,656 5.61%
Arlington, VA 2,444 -2.47% 17 -17.32% 98.97% -0.53% $ 668,413 6.61%
Fairfax City, VA 356 -4.56% 24 -24.71% 100.17% 2.03% $ 577,562 4.51%
Fairfax, VA 16,224 6.62% 18 -23.36% 99.81% 11.66% $ 592,839 6.79%
Falls Church City, VA 158 -8.67% 14 -50.65% 100.33% 1.17% $ 735,495 -9.54%
Fauquier, VA 1,341 14.13% 42 -7.68% 97.67% 1.81% $ 470,713 9.73%
Loudoun, VA 7,470 12.15% 18 -25.70% 99.79% 34.14% $ 567,000 6.23%
Manassas City, VA 692 6.63% 17 -33.96% 99.95% 1.57% $ 353,323 7.93%
Manassas Park City, VA 256 -1.16% 19 -20.77% 99.82% 3.80% $ 343,777 5.11%
Prince William, VA 8,042 8.71% 17 -37.70% 100.03% 1.52% $ 439,304 8.84%