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If you are a member of the press/media and would like to be added to our list, please contact Ann Gutkin at agutkin@nvar.com or 703-207-3216. Please also download the NVAR Fact Sheet for more information.

 

The Northern Virginia Association of Realtors®
8407 Pennell Street
Fairfax, Virginia 22031
703.207.3200
nvar.com

July 13, 2021
For Immediate Release

Ann Gutkin
Vice President, Communications
703-207-3216; agutkin@nvar.com

Northern Virginia Home Sales Reach 16-Year High in June

Fairfax, Va. – “We have to go back 16 years – to 2005 – to find a month with a higher number of closed transactions than we had in June,” said Derrick Swaak, 2021 president of the Northern Virginia Association of Realtors® (NVAR) and a partner/managing broker with TTR Sotheby’s International Realty in McLean, Va.

Realtors® in the NVAR region helped their clients close 2,991 sales in June, up 48% over the number of closed transactions in June of 2020 and 12% above the number of home sales this past May. 

 “Vigorous competition for listings among buyers also resulted in a spike in sales prices,” Swaak said. 

The average sold price in the NVAR region was $741,574, up 14.6% over last year, bringing the total sold dollar volume in June to almost $2.2 billion, up 65.7% over last year’s dollar volume for the same month.

There were 3,610 new listings in June, 37.4% above the 2,628 new listings last year and 4.6% higher than the 3,452 new listings in May.

“While more homes came on the market in June, new listing inventory was gobbled up quickly, as demand continued to overwhelm supply,” said Swaak. “Homes continued to remain on the market for a very short period of time – just 13 days,” Swaak said.

Weekly showing activity showed a slight decline towards the end of June, based on showing appointments confirmed through Showing Time, as reported by Bright MLS. 

“Activity was brisk at the beginning of June, but there was a noticeable dip by month-end,” said Ryan McLaughlin, NVAR CEO. 

During the week ended June 6, showing levels tracked at 160.7% of showings during that same week last year and at 192.2% of the same week from 2019. But by the week ended June 27, showing levels tracked at just 95.8% of the showings compared to 2020 and at 129.9% of the showings during that same week in 2019.

“While buyers still face stiff competition for limited inventory, now sellers face competition, too – with summer travel plans,” says McLaughlin. “It seems that the pent-up demand for homes is no match for the desire to travel now that restrictions have eased.”

Some Northern Virginia Realtors® have noticed this slight shift in priorities. 

“There’s anecdotal feedback from our agents that the market has started to cool off slightly in July, as both buyers and sellers finally decided to travel and take some much-needed vacation time,” said Swaak.

June 2021 Regional Home Sales Compared to June 2020: Northern Virginia Data from Bright MLS as of July 7, 2021; total sales and listings may not include garage/parking spaces.

The Northern Virginia Association of Realtors® reports on June 2021 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton. 

A total of 2,991 homes sold in June 2021, a 48.36% increase above June 2020 home sales of 2,016.

The number of total active listings increased last month compared with 2020. Listings were 31.18% above last year, with 2,533 active listings in June, compared with 1,931 homes available in June 2020. The average days on market for homes in June 2021 fell by 27.8% to 13 days – compared to 18 days on market for homes in June 2020. 

New listings rose by 37.4% in June compared with last year, to 3,610. There were 2,628 new listings in June of 2020.

The average home sale price rose by 14.6% compared with last June, to $741.574. The June 2020 average sale price was $646.859. 

The median sold price of homes this June, which was $660,000, rose by 10.9% compared to the median price of $595,000 in June 2020.

Read more about the NVAR region housing market at NVAR.com/public.

June Housing Data: Click here.
Infographic: Click here.
The June Market Stats Page: Click here.
June Market Minute Video: Click here.
These links are accessible from the Market Stats page here: Click here.

* Follow us on Twitter - @nvar * Visit us on facebook.com/nvar.realestate
* LinkedIn: NVAR and NVAR Group

For May Housing Data: Click here. and Infographic: Click here.

MORE ABOUT NVAR

The Northern Virginia Association of Realtors® serves as The Voice for Real Estate in Northern Virginia, enhancing the ability and opportunity of its members to conduct their business successfully, promoting professional competency, upholding the principles of fair housing for all, and preserving the right to own, transfer and use real property. With offices located in Fairfax and Herndon, NVAR has grown to more than 13,000 Realtor® and real estate service provider members who carry out a real estate industry in a community of more than 2 million residents. Visit NVAR online at www.nvar.com

Press Release Archive

2021 Northern Virginia Association of Realtors® Regional Market Forecast
Realtors® Announce Centennial-Year Leaders Northern Virginia Association of Realtors® Installs 2021 Board of Directors; Announces 2020 Awards
No Slowdown in October for Northern Virginia Home Sales Record October Sales and Listing Activity Reflects Pent-Up Demand for Both Sellers and Buyers
Strong November Home Sales Mean Happy Holidays for Sellers in Northern Virginia Year-Over-Year Price Gains and Inventory Increases Continue
September Surge in Northern Virginia Home Sales Housing Data
NVAR CEO Ryan Conrad Named a Virginia 500 Leader
Northern Virginia REALTOR® Associations Adopt Remine Docs+ Transaction Management Platform
New June Home Listings Rise in Northern Virginia; Brisk Home Sales Push Prices Upward
Wary Northern Virginia Sellers Delayed Listing Homes in April; Competition for Limited Inventory by Undeterred Buyers Kept Prices at a Premium
Early Spring Real Estate Market in Northern Virginia Has Its Ups and Downs
Eager Buyers Spur Early Spring Real Estate Market in Northern Virginia; Changes to VA Home Loan Program Expand Opportunities for Local Veterans
Northern Virginia Year-End Housing Market Finishes Strong: Realtors® Predict Increase in 2020 Recorded Sales
Northern Virginia November Market Follows Consistent Trend: Homes Sell and Rent at Fast Pace as Prices Continue to Climb
Setting the Stage for 2020: Northern Virginia Association of Realtors® Installs 2020 Leadership; Announces 2019 Awards
Global Is the New Local in Northern Virginia
October Market Keeps Seller Spirits High: Properties Continue to Move at a Rapid Pace in Northern Virginia
A Seller’s September: Leaves Are Falling, Autumn is Calling – And So Are Those Buyers!
Nora Partlow, Northern Virginia Realtor®, Selected as Finalist for National Award
Fall Market Set to Kick-Off as Summer Comes to Close Low Inventory, Housing Prices Are “On Trend” in Northern Virginia
Steady Northern Virginia Real Estate Market Keeps Sellers in the Driver’s Seat Motivated Buyers Harness Low Mortgage Rates to Navigate Limited Housing Inventory
Wet June Weather Won’t Dampen Northern Virginia Housing Market Homebuyer Enthusiasm Pushes Limits on Pricing
Northern Virginia Home Prices in Full Bloom; May Market Reflects Continued Spring Growth Cycle
Multiple Offers, ‘Packs’ of Investors, Record January Sales Point to Early Start of Spring Market, Reports the Northern Virginia Association of Realtors®
‘HQ2 High,’ Short-Term Uncertainty Reflected in Northern Virginia Association of Realtors® December Housing Market; New ‘Under Contracts’ Up 74 Percent Year-end Numbers Mirror Historic Highs of 2017; Government Shutdown Impact to be Determined
The Northern Virginia Association of Realtors® Announces its $41,000 in Donations to 19 Nonprofit Beneficiaries. Funds dispersed by the 2018 NVAR Cares Committee
12/12 Symposium Examines Amazon HQ2’s Impact on Local Housing: National Economists to Analyze What to Expect Live Streaming on YouTube Set
November’s Northern Virginia New Under Contract Sales Jump Nearly 90 Percent in the Wake of the Amazon News; Despite Lean Inventory, Market Sentiment is Not Dampened (November 2018 Housing Stats)
The Northern Virginia Association of Realtors® Honored with Platinum Global Achievement Program Award By National Association of Realtors® at Annual Convention in Boston, MA
‘Principle of Anticipation’ kicks in for October’s Buyers, Sellers in Northern Virginia: New Listings, New Contracts Rise 7 Percent; Active Listings, All Pendings Dip 7 Percent (October 2018 Housing Stats)
September Home Sales Dip Compared to Last Year; Average, Median Prices Tick Upwards; Home Sellers Still ‘In Driver’s Seat’ (September 2018 Housing Stats)
August Home Sales: 1 Percent Rise; Active Listings & Pendings Dip, First-Time Homebuyers Start Their Equity Clocks Ticking While Interest Rates Remain Good (August 2018 Housing Stats)
July Home Sales Equity Gains Ring True for NOVA Sellers; Active Listings Dip; New Under Contracts Rise More Than 2 Percent (July 2018 Housing Stats)
June Home Sales Dip 5 Percent, New Contracts Rise 5 Percent, Housing Supply Still Lean as Slower Summer Months Approach, Lenders Offer New Products for Interest Rate Locks (June 2018 Housing Stats)
The Northern Virginia Association of Realtors® Announces the Selection of Paula Martino, Northern Virginia RPAC Development Strategist
May Home Sales Remain Brisk as Spring Season Ramps Up, Condo Sales Strong, Moderate Economic Growth Expected (May 2018 Housing Stats)
April Had Cool Temps But Market Heated Up: Record Overall Sales in Northern Virginia; Total Active Listings, Pendings Have Room to Grow (April 2018 Housing Stats)
Monetary Policy, Tax Changes Do Not Affect Northern Virginia’s Serious Clients, March Home Sales Track Evenly with Last Year (March 2018 Housing Stats)
Lean Inventory for Northern Virginia Buyers Sparks Competition for Available Homes (February 2018 Housing Stats)
Northern Virginia Association of Realtors® Wins Progress Sitefinity 2017 Association Website of the Year Award
Capitalize D.C. to Promote The Metro D.C. Region at MIPIM
Tax Reform Impacts Not Hindering Northern Virginia Buyers, Sellers (January 2018 Housing Stats)
Northern Virginia Association of Realtors® Announces its 2017 NVAR Cares Committee Beneficiaries Inaugural NVAR Hero Awardee Named
Lorraine Arora Installed as 2018 Chairman of the Northern Virginia Association of Realtors®,
First-Ever Realtor® Community Action Day Results in Philanthropy, Outreach to Neighbors
The Northern Virginia Association of Realtors® Launches Its New Website,
NVAR Awarded Global Platinum Council
2016 NVAR Cares Committees Supports Charities
Bob Adamson Installed As 2017 Chairman

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