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

|| NORTHERN VIRGINIA OVERVIEW NOVEMBER 2020
MARKET SUPPLY – INVENTORY TREND
EOM Inv 2019/12 2020/01 2020/11 2020/12MoM CHGYTD CHG YoY CHG
Alexandria City, VA 94 111 404 312 -22.77% 181.08% 231.91%
Arlington, VA 91 94 588 412 -29.93% 338.30% 352.75%
Fairfax City, VA 22 19 45 33 -26.67% 73.68% 50.00%
Fairfax, VA 787 799 1750 1231 -29.66% 54.07% 56.42%
Falls Church City, VA 4 8 13 10 -23.08% 25.00% 150.00%
Fauquier, VA 129 125 177 132 -25.42% 5.60% 2.33%
Loudoun, VA 323 354 582 408 -29.90% 15.25% 26.32%
Manassas City, VA 38 36 59 39 -33.90% 8.33% 2.63%
Manassas Park City, VA 20 19 19 13 -31.58% -31.58% -35.00%
Prince William, VA 450 449 598 433 -27.59% -3.56% -3.78%
END OF MONTH INVENTORY:
New Listings are absolutely the “Fuel” that drives the current market and feeds current Demand requirements. Inventory was
starting to rise, however, holiday season took the air out of the market. Demand contined with an End of Year, Empty the Closet
Sale with New Listings declining.
The region has been in a downward errosion of inventory for the past 5 years with slight improvement in 2020 but not enough
to come close to balancing the market and the momentum was lost during Holiday Season. It does illustrate that even during
the Holiday Season Demand continued.
Momentum was lost in lieu of a much needed Holiday Season!
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