DATA

MARCH 2021

March was another crazy, competitive month in real estate. Values continued increasing, and homes went under contract at the fastest pace since last spring. Continuing a trend from previous months, much of the competition has moved to further-out areas. Specifically, in both Prince William and Loudoun, the typical home sold in March was on the market only 4 days and closed 3 percent above list price!

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WASHINGTON, DC

While the median sale price held relatively steady from February to March, the number of homes that sold in DC increased by more than 200. The typical home that sold spent only 8 days on the market – a bit longer than in much of Northern VA, but still a very quick turnaround. 

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ARLINGTON, VA

The number of closings in Arlington increased by 16 percent from February to March, but the median number of days on the market held steady at 8. After two consecutive months with a median sale price of $600,000, March had a slightly higher median at $610,000.

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ALEXANDRIA, VA

Alexandria had a dramatic increase in the number of home sales, increasing approximately 45 percent from February to March. The city’s 314 closings also had a higher median sale price than in January or February, and the time those homes spent on the market was cut in half. 

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FALLS CHURCH, VA

At 17 closings, March was the busiest month since October for home sales in Falls Church. Much like its neighboring counties, Falls Church saw a decrease in days on market for its sold homes. Unlike Arlington or Alexandria, the typical home closed at 1 percent above its original list price.

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FAIRFAX, VA

Fairfax had arguably the most significant increases in sales activity this past March. The number of sales increased by more than 50 percent – over 500 additional sales – and the median price rose 6 percent compared to February. Sales rose above and beyond already heightened list prices: the typical sale closed at 1.4 percent above its original list price. 

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PRINCE WILLIAM, VA

Like elsewhere, Prince William had significantly more closings in March than in February. More notable, though, is the county’s pricing data. The median sale price in March was more than 8 percent higher than in February, and the typical home closed at 3 percent above its original list price. 

LOUDOUN, VA

The real estate market in Loudoun County this past March looked much like in Prince William. While the number of sales rose, as is common in the spring, the more notable figures demonstrate the competition required to obtain those homes. For homes that sold in March, the median time on the market was only 4 days, and the typical home closed at 3 percent above its original list price.

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