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Fairfax, Va. – “The number of November home sales in Northern Virginia has not reached this level in 15 years,” says Nicholas Lagos, associate broker with Century 21 New Millennium and 2020 president of the Northern Virginia Association of Realtors® (NVAR). “NVAR Realtors® closed transactions totaling more than $1.3 billion last month. The year may be winding down, but the real estate market in our regional footprint continues to be strong. November dollar sales volume was up 45% in comparison to the same period last year,” Lagos says.
In the NVAR region, 1,908 homes were sold, with an average sales price of $685,445, nearly 10% higher than home sales in November of 2019.
“Even though inventory is still low, buyers continued to see more opportunities to purchase with an increase of 39% in new listings when compared to 2019,” says Lagos.