Total home sales during the first quarter of 2021 stood a whopping 19.9 percent higher than at the same period in 2020 in Northern Virginia’s five major jurisdictions, marking essentially the last comparison to a pre-COVID environment.
A total of 8,024 properties went to closing in January, February and March across the five localities, according to figures from MarketStats by ShowingTime as analyzed by the Sun Gazette. Figures represent sales in Arlington, Fairfax, Loudoun and Prince William counties and the city of Alexandria.
Those 8,024 transactions compare to 6,695 sales in the January-February-March 2020 period, and were up by double digits in every jurisdiction:
• Sales in Fairfax County totaled 3,450, an increase of 17.5 percent from 3,013 a year before.
• Sales in Prince William County totaled 1,663, up 16 percent from 1,434.
• Sales in Loudoun County totaled 1,485, up 22.2 percent from 1,215.
• Sales in Alexandria totaled 697, up 36.9 percent from 509.
• Sales in Arlington totaled 639, up 32.3 percent from 524.
Though not counted in the totals, those increases were mirrored in other major jurisdictions in the Washington region, with first-quarter sales up 14.8 percent to 2,373 in the District of Columbia; up 14.6 percent to 2,891 in Montgomery County; and up 15.2 percent to 2,591 in Prince George’s County.
Median sales prices were up in four of the five Northern Virginia localities; the lone exception was Arlington, where the first-quarter median sales price of $601,500 was down 3 percent from $620,000 a year before. But in the other four locales, all signs were positive:
• The median sales price of $574,585 in Loudoun County was up 12.3 percent from $511,500.
• The median sales price of $570,000 in Fairfax County was up 3.5 percent from $550,500.
• The median sales price of $540,000 in Alexandria was up 2.7 percent from $526,000.
• The median sales price of $421,500 in Prince William County was up 8.3 percent from $389,250.
Figures represent most, but not all, properties that sold during the period. Figures for 2021 are preliminary, and are subject to revision.
Figures for the second quarter, to be available in July, are likely to show an even larger boost from the April-May-June 2020 timeframe, as that was in the early stages of the pandemic, a time when the real-estate market froze momentarily before beginning its meteoric rebound in the late spring and summer of 2020.