Real Estate Blog

 

CONTINUED INCREASE IN HOME SALES IN PRINCE WILLIAM COUNTY   WOODBRIDGE, VA. January 12, 2021—REALTOR® Association of Prince William (PWAR) has gathered Prince William County’s most recent market statistics, generated by SmartCharts, an affiliate website of Showing Time. The market statistics are gathered through data provided by Bright MLS, which serves as the multiple listing service for Prince William .   A total of 814 homes were sold in December 2020, a great increase of 33.4 percent compared to December 2019 at 610. The number of contracts pending saw another increase of 20.9 percent year-over-year, from 579 to 700. New listings also showed an increase

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WOODBRIDGE, VA. November 10, 2020—REALTOR® Association of Prince William (PWAR) has gathered Prince William County’s most recent market statistics, generated by Smart Charts, an affiliate website of Showing Time. The market statistics are gathered through data provided by Bright MLS, which serves as the multiple listing service for Prince William County.   A total of 873 homes were sold in October 2020, an terrific increase of 49.5 percent compared to October 2019 at 584. The number of contracts pending saw another increase of 34.5 percent year-over-year, from 687 to 924. New listings also showed an increase year-over-year, with 876 new listings, as opposed to 647 in October 2019. There were also fewer active listings available this year with…

WOODBRIDGE, VA. October 13, 2020—REALTOR® Association of Prince William (PWAR) has gathered Prince William County’s most recent market statistics, generated by SmartCharts, an affiliate website of Showing Time. The market statistics are gathered through data provided by Bright MLS, which serves as the multiple listing service for Prince William County.   A total of 793 homes were sold in September 2020, an auspicious increase of 40.6 percent compared to September 2019 at 564. The number of contracts pending saw a noticeable increase of 31.7 percent year-over-year, from 773 to 1,018. New listings also showed an increase year-over-year, with 909 new listings, as opposed to 708 in September 2019. There were also fewer active listings available this…

Summer Is the New Spring for Northern Virginia Home Sales July Housing Data Shows Continued Demand   "The summer season may be starting to wind down, but the real estate market continues to remain sizzling hot," NVAR 2020 President Nicholas Lagos said. "The traditional spring market has been delayed to the summer months, and the pent-up buyer and seller demand that began in in late spring continued full force into July."   New listings continued an upward trend that began in June, when new listings of homes in Northern Virginia were positive for the first time since February. The number of new listings increased 14.5% from June 2020 to July 2020, indicating that sellers are feeling increasingly confident in local market and economic…

"For the first time since February, new listings of homes in Northern Virginia were in positive territory," says Nicholas Lagos, 2020 president of the Northern Virginia Association of Realtors® (NVAR) and associate broker with Century 21 New Millennium in Arlington. "Last month, there were 21% more new listings on the market in the NVAR region than we saw in May," Lagos says, "and new listings were also 1.5% above the number we saw in June last year."   Weekly new listings showed steady upward movement for most of June, according to real-time data published by the George Mason University Center for Regional Analysis (GMU-CRA) at cra.gmu.edu/covid19. NVAR partners with GMU-CRA to publish market and economic data for the NVAR footprint, which covers…

Trendline for New Pending Home Sales in Northern Virginia Ticks Up; Decrease in May Closings Reflects Initial Buyer and Seller Reaction in Early Stages of Pandemic

"While there were few surprises in the May residential closed sales data for our region, new listings of homes in Northern Virginia continue to show signs of resilience," says Nicholas Lagos, 2020 president of the Northern Virginia Association of Realtors® (NVAR) and associate broker with Century 21 New Millennium in Arlington. "Uncertainty surrounding the COVID-19 pandemic pushed pause on listing and showing activity in March and April, which caused the number of closed transactions last month to fall," Lagos says   There was a modest strengthening of new residential listings in the…

Wary Northern Virginia Sellers Delayed Listing Homes in April; Competition for Limited Inventory by Undeterred Buyers Kept Prices at a Premium

"As our Northern Virginia real estate market approaches the two-month mark under COVID-19 conditions, residential housing is still a hot commodity for motivated buyers," says Nicholas Lagos, president of the Northern Virginia Association of Realtors® and associate broker with Century 21 New Millennium in Arlington. "Responding to the needs of buyers and sellers, Realtors® have been nimble in adjusting their procedures while ensuring safe practices under the circumstances," Lagos says.

"With inventory levels reaching all-time lows, homes across the NVAR footprint averaged more than 100% of their list price.

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NAR: Realtors® Report That 77% of Potential Home Sellers are Preparing to Sell Following End of Stay-At-Home Orders

Realtors® Report That 77% of Potential Home Sellers are Preparing to Sell Following End of Stay-At-Home Orders    WASHINGTON (May 7, 2020) - More than 3 in 4 potential sellers77% - are preparing to sell their homes following the end of stay-at-home orders, with half completing do-it-yourself home improvement projects, according to a new survey from the National Association of Realtors®.   "After a pause, home sellers are gearing up to list their properties with the reopening of the economy," said NAR Chief Economist Lawrence Yun. "Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the…

March Real Estate Transactions in Northern Virginia Remained Virtually Possible for Those Who Needed to Make a Move
From Facemasks to Facetime, Realtors® Pivot to Keep Transactions on Track

In a world where conducting business has become virtually impossible, Northern Virginia real estate transactions were virtually possible during the month of March. Advances in technology, combined with initiative and creativity, have enabled those who must buy or sell a home during the COVID-19 crisis to do so - while maintaining compliance with mandated safe business practices.   "The health and safety of the community at large is our primary concern," says Nicholas Lagos, 2020 NVAR president. "We also recognize that the ability to buy or sell a home is an…

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