Home sales in Northern Virginia sharply lower in April

Photo shows a Long & Foster real estate sign.
A For Sale sign is seen on a home in Alexandria, Virginia. (WTOP/Colleen Kelleher)

Home sales in Northern Virginia were sharply lower in April, prices of what sold were higher and there are signs of a shift of interest away from more urban areas, with concerns about the coronavirus pandemic.

Long & Foster reports the number of homes sold in Arlington County in April was down 31% from a year ago, but the median selling price was up 5% to $678,000.

In Fairfax County, year-over-year sales were down 23%, with a 6% rise in the median selling price, to $582,000.

Long & Foster President Larry “Boomer” Foster said an emerging trend is the decline in popularity of town houses and condos in favor of single-family homes. He speculates that is due to people wanting to get out of socially-dense areas and wanting to have more space.

Sales were down throughout the region, falling 16% in Maryland’s Montgomery County and 22% in Prince George’s County. Prices were higher in both.

In the District, sales in April were down 34% from a year ago, with a median price of $619,900, up 5%.

Below are market snapshots of the D.C.-area’s April housing market, courtesy of Long & Foster Real Estate Inc.

DC’s April housing market

Maryland’s April housing market

Virginia’s April housing market

 

More Coronavirus news

Looking for more information? D.C., Maryland and Virginia are each releasing more data every day. Visit their official sites here: Virginia | Maryland | D.C.

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