DATA

APRIL 2021

As temperatures increased throughout April, so did the competition in the DC-area real estate market. In DC proper and all of Northern VA, the typical home sold in April went under contract within a week and sold for its original list price or more. Loudoun and Prince William led the way with homes selling for 3-4% above original list. Everywhere except Prince William had a median sale price above $600,000, and with the level of competition that remains, these prices are likely to increase even more as we approach summer. 

Washington, DC and Northern VA real estate market data

WASHINGTON, DC

In DC, there were 100 more sales in April than there were in March, and the typical home was on the market for 7 days before going under contract. The median sale price for those that closed in April rose above $650,000, slightly higher than the median price in Arlington and Alexandria.

Washington, DC and Northern VA real estate market data

ARLINGTON, VA

The number of homes sold in Arlington continued rising in April, with 353 closings compared to 283 in March. Like in DC, the typical home was on the market for 7 days before going under contract. The median sale price increased 6.5% between March and April, nearly breaking the $650,000 mark for the first time since November. 

Washington, DC and Northern VA real estate market data

ALEXANDRIA, VA

The number of homes sold in Alexandria held steady from March to April, but prices did not. Like in Arlington, the median sale price nearly reached $650,000; for Alexandria, that represents a 12% increase compared to March. This also is the highest monthly median sale price on record in Alexandria.

Washington, DC and Northern VA real estate market data

FALLS CHURCH, VA

Falls Church had one more closing in April than in March, and the median sale price held steady, right around $850,000. The median sale price to original price ratio dropped back down to 100%, but the time it took those homes to sell (median of 5 days on market) remained the same. 

Washington, DC and Northern VA real estate market data

FAIRFAX, VA

Nearly 1,900 homes in Fairfax were sold in April – a 22% increase from March, and a higher total than any month in 2020. The median sale price also jumped above $630,000 compared to $595,000 in March. This is only the second month on record with a median sale price above $600,000 in Fairfax (July 2020 had a median price of $615,000). 

Washington, DC and Northern VA real estate market data

PRINCE WILLIAM, VA

Prince William remained arguably the most competitive part of Northern VA in April, with the typical home going under contract in 4 days and selling for 104% of its original price. This is the highest of any county in Northern VA in recent history and potentially ever. The median price itself also increased, setting a new record for Prince William at $463,500.

LOUDOUN, VA

Much like Prince William, Loudoun County stayed highly competitive in April. The typical home went under contract in just 4 days and sold for 3% above its original list price. The median sale price rose 5% from March to April and surpassed $600,000.

Washington, DC and Northern VA real estate market data

Questions about this data or anything else real estate?

Contact Ryan >>