Home sales over the first six months of the year in Northern Virginia’s five largest jurisdictions were down 1.5 percent from the same period a year before, according to new data, and sellers were garnering less on a per-square-foot basis than they had received in 2018.
A total of 17,946 properties went to closing in the January-to-June period in Arlington, Fairfax, Loudoun and Prince William counties and the city of Alexandria, according to figures reported by MarketStats by ShowingTime, based on listing activity from Bright MLS, and analyzed by the Sun Gazette.
Market performance varied across the region, with Arlington, Alexandria and Loudoun posting drops, Fairfax County essentially being flat and Prince William seeing an increase.
• Fairfax County recorded 8,150 home sales in the first six months of 2019, up 0.3 percent from a year before.
• Prince William County saw 3,749 homes go to closing, an increase of 2.7 percent.
• Loudoun County had 3,308 closed sales, down 5.8 percent.
• Arlington saw a sales total of 1,417, down 6.8 percent.
• Alexandria posted 1,322 sales, down 6.2 percent.
While sales prices have continued to rise across the region, those selling their properties during the first half of 2019 received, on average, less on a per-square foot basis.
Among the five major jurisdictions in Northern Virginia, the highest per-square-foot sales price came in Arlington, but its total of $434 was down 8.1 percent from a year before.
Other jurisdictions were in negative territory, too: Alexandria was down 6.1 percent to $367; Fairfax County dipped 11.7 percent to $280; Loudoun County was down 11.6 percent to $199; and Prince William County dipped 20.4 percent to $168.
(When parsing the data using median sales prices rather than average, the result is essentially the same, with all local jurisdictions posting declines.)
Prices may be down, but four Northern Virginia locales – Arlington, Falls Church, Alexandria and Fairfax County – are in the top five across the Mid-Atlantic in terms of square-foot costs. The District of Columbia tops the ranking at $490, but even it saw a decline, dropping 7.9 percent compared to a year before.
Figures represent most, but not all, homes on the market. All data from 2019 are preliminary and subject to revision.