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Friday, August 19, 2022
ArlingtonReal EstateMost local home-sellers still getting 100%-plus from buyers

Most local home-sellers still getting 100%-plus from buyers

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Price it right, and they will come.

Sellers in the five largest Northern Virginia localities, received, on average, more than original listing price for homes that went to closing in June, according to new data.

That’s an indication that sellers to have realistic expectations on pricing at a time when the market is beginning to cool, and the buyers are willing to wave appropriate amounts of cash in their direction in order to get the home they want.

That said, four of the five localities had lower sales-price-to-listing-price ratios in June compared to a year before, with the outer suburbs seeing the biggest drop:

• In Alexandria, the ratio for June 2022 was 100.43 percent, down from 100.46 percent.

• In Fairfax County, the ratio of 102.04 percent was down from 102.86 percent.

• In Loudoun County, the ratio of 101.63 percent was down from 103.49 percent.

• In Prince William County, the ratio of 102.33 percent was down from 103.47 percent.

Only in Arlington was the ratio higher, rising from 99.91 percent a year before to 100.16 percent in June 2022.

June figures were reported July 13 based on data provided by MarketStats by ShowingTime based on listing activity from Bright MLS.

Among the 70-odd localities tracked by Bright MLS, about half showed increases year-over-year, half were flat or showed declines.

Across the Mid-Atlantic area covered by Bright MLS, the highest sales-to-listing ratio for the month was in Somerset, N.J., at 108.15 percent.

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