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ArlingtonNewsMany N.Va. home-sellers getting more than asking price

Many N.Va. home-sellers getting more than asking price

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The real-estate frenzy across the Washington area is causing many properties to sell for more than listing price, and it appears the outer suburbs are seeing this trend most significantly.

Sellers in Prince William County garnered 102.38 percent of original listing price for transactions that occurred in the first quarter of 2021, according to new figures compiled by RealEstate Business Intelligence, based on data from MarketStats by ShowingTime.

That’s highest among Northern Virginia localities, edging out Loudoun County, where the average seller picked up 102.2 percent of listing price. The year-over-year change in Prince William was up 3.3 percent; in Loudoun, it was 2.8 percent.

Manassas posted a sales-price-to-listing-price ratio of 102.06 percent, up 2.9 ticks from the same period in 2020, while Falls Church sellers garnered an average 101.13 percent, up 1.4 points.

Two others that saw sellers, on average, receive more than listing prince were Manassas (101.02 percent) and Fairfax County (100.98 percent).

Sellers in Arlington and Alexandria are still picking up oodles of cash for their homes, so don’t feel too sorry for them, but didn’t quite transcend the 100-percent mark for the quester:

• Alexandria homes sold for an average of 99.11 percent of listing price, down 1.1 percent from a year before.

• Arlington homes sold for an average of 98.91 percent, down 0.9 percent.

Of the roughly 70 localities covered by MarketStats by ShowingTime, Alexandria and Arlington were two of only four locations to post declines in the percentage obtained by sellers from the first quarter of 2020 to the first quarter of 2021. The others: Fulton County (Pa.) and Pendleton County (W.Va.).

For the Mid-Atlantic region as a whole, sellers for the quarter picked up an average 99.59 percent of listing price, up from 96.52 percent in 2020.

The first-quarter data are the last where year-over-year comparisons will make much sense, as the second-quarter-of-2020 market went into a degree of hibernation (blame COVID) and the market then exploded over the summer as buyers hopped into the market in a frenzy.

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