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FairfaxReal EstatePer-square-foot home-sales prices still on upswing

Per-square-foot home-sales prices still on upswing

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Headwinds may be on the horizon, but home-sellers across Northern Virginia are still getting more on a per-square-foot basis from buyers than they were a year before, according to new data.

The year-over-year increase for the first four months of 2022 ranges from 7 percent to 18 percent among the six jurisdictions analyzed by the Sun Gazette.

Figures were reported May 11 based on data provided by MarketStats by ShowingTime based on listing activity from Bright MLS.

Among the six Northern Virginia locales, Arlington County led the pack with a per-square-foot sales price of $496 for the January-to-May period, up 6.7 percent from the $465 a year before.

Falls Church followed at $465, up 12.6 percent, with Alexandria clocking in at $438, up 6.8 percent.

Fairfax County was up 8.3 percent to $341, while Loudoun County was boosted 17.5 percent to $275 and Prince William County was up 13.7 percent to $224.
In the Washington metropolitan area, only the District of Columbia ranked ahead of Arlington, with its average per-square-foot sales price of $550 for the first four months of the year.

In all these jurisdictions, sellers in April received, on average, more than the year-to-date running average since the start of the year. April’s per-square-foot figures were $574 in D.C., $508 in Arlington, $495 in Falls Church, $453 in Alexandria, $350 in Fairfax County, $285 in Loudoun County and $226 in Prince William County.

For the Mid-Atlantic region as a whole, the average per-square-foot sales price for the first four months of the year stood at $230, up 9.5 percent from $210. In April, the per-square-foot cost was $240.

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