Home Front: Northern Virginia Market Report May 2020

Every year, Keller Williams agents worldwide participate in Red Day, a day of giving back to our communities where we live and serve. This year, we're raising funds to provide meals to front line workers at five local hospitals to thank them for their tireless efforts to keep us safe. We've partnered with local restaurants and moving companies to provide and deliver the meals, so not only will the donations keep hospital staff fed, but they will also support local businesses in keeping their doors open. We know everyone is watching their budgets right now, so we greatly appreciate any donation amount. Just $5 will provide one hot meal.  Plus, the fund is a non-profit organization making your donations tax-deductible. So please join the team at The Spear Realty Group in saying "thank you" to our front line workers. 

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Are Houses the New Toilet Paper?

The biggest change that we are seeing in the real estate market is a drop in the number of sales. Prices, however, are generally holding steady or increasing. With even fewer homes on the market and many buyers looking to take advantage of low-interest rates, a unique opportunity exists for savvy sellers. 

Loudoun County April Recap

Fairfax County April Recap 

(Including City of Fairfax and Falls Church City)

Homes Sold: 1,319 (down 6% from March 2020 and down 23% from April 2019)
Average Sale Price: $655,778 (up 4% from March 2020 and up 8% from April 2019)
Average Days on Market: 15  (down 5 days from March 2020 and down 5 days from April 2019)

 Arlington County April Recap

Homes Sold: 193 (down 15% from March 2020 and down 32% from April 2019)
Average Sale Price: $775,815 (up 2.5% from March 2020 and up 7% from April 2019)
Average Days on Market: 12 (down 7 days from March 2020 and down 8 days from April 2019)

Prince William County April Recap

Homes Sold: 586 (down 4% from March 2020 and down 15% from April 2019)
Average Sale Price: $441,555  (up 2% from March 2020 and up 8% from April 2019)
Average Days on Market: 14  (down 9 days from March 2020 and down 9 days from April 2019)

Fauquier County April Recap

Homes Sold: 99 (down 17% from March 2020 and down 13% from April 2019)
Average Sale Price: $486,570 (up 4.5% from March 2020 and up 15% from April 2019)
Average Days on Market: 33 (down 36 days from March 2020 and down 4 days from April 2019)