Real-estate professionals from across the local area already are seeing spring-level interest among prospective buyers, raising hopes for a solid start to the year.
“The Amazon HQ2 announcement, plus favorable interest rates and a relatively mild winter, have all contributed to bringing the buyers out early this year,” Northern Virginia Association of Realtors president Christine Richardson said.
“Open house traffic has been brisk in January and early February, and many properties have been sold with multiple offers,” she said.
Sales data show some backing for the enthusiasm, as the number of homes under contract during the month was up significantly from a year before in January.
As for transactions themselves, a total of 1,128 properties went to closing the first month of the year in Northern Virginia, according to figures reported Feb. 12 by MarketStats by ShowingTime.
That’s the highest January sales total in a dozen years, and includes year-over-year increases in nearly every jurisdiction across the area.
Figures represent sales in Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church.
The median sales price was up in the attached (townhouse/rowhouse) segment of the market, climbing 2.1 percent to $408,600, but was down 7.2 percent to $761,455 in the single-family sector and off 4.9 percent to $322,194 in the condo sector.
Add up the sales and prices, and total dollar volume in January totaled $635.7 million, up just over 2 percent from a year before.
Local real-estate professionals anticipate “an active spring market,” said Ryan Conrad, CEO of the Northern Virginia Association of Realtors.
“Interest rates remaining low, the excitement of Amazon and what’s to come with Virginia Tech’s new center have definitely impacted the buyer pool,” said Rachel Carter, branch vice president of Coldwell Banker Residential Brokerage in Alexandria and chair of the NVAR Technology Advisory Group.
“We are clearly seeing more activity and an ‘early spring,’” Carter said.
The total available inventory across Northern Virginia remains almost 20 percent lower than a year before, standing at 1,757 at the end of January. Homes that sold during the month garnered 97.7 percent of listing price, up from 96.7 percent a year before.
The Arlington market, arguably most impacted by potential Amazon activity, continued to thrive in January. It outpaced the Northern Virginia region as a whole, with a median sold price of $615,000, up by 20 percent over the prior year. The number of January sales in Arlington grew by 7 percent compared with a year before, higher than the region’s two other major localities, Fairfax County (where sales were up 1.7 percent) and Alexandria (where they were up 2.9 percent).
For more information, see the Website at www.nvar.com/marketstats.