June 2020

Found 2 blog entries for June 2020.

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…
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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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