April 2023 Home Sales

Northern Virginia April 2023 Home Sales:

Northern Virginia Real Estate Housing Market Update for April 2023...it's competitive out there! Sales are down...why? What does that mean for buyers? Watch video below to get the answers from Terry. Then scroll down to get all the market stats for April in Northern Virginia and many of our local markets.

If you still have questions or need help buying or selling, give Terry a call. He is a local expert who has been selling Northern Virginia for over 30 years and would love to help!

703-242-3975 | Info@TheBeltTeam.com

• 2,942 homes went under contract in the region. This is down 29% from the same time period in 2022.

• 73% of the homes that went to settlement in April 2023, sold in 10 days or less from when they hit the market.

• Average sold price was $739,098 (up 1.5% from the same time period in 2022).

• 2,727 homes came on the market. That’s down 48% from April 2022.

• Homes that sold (closed) averaged 17 days on market, 8 days slower than in April 2022.

• There is currently a 0.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in the Northern Virginia – and 2,306 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory was down just slightly from the prior month as well as down 8.3% year-over-year. The number of homes going under contract increased but the number coming on the market decreased just a bit. Both of these numbers continue to be down significantly from this time last year. Average sold price was up from March and up slightly compared to the same time last year.