Home sales across Northern Virginia’s big-five communities were weak, compared to a year before, to start the year, with total transactions in January down 36 percent.
A total of 1,521 properties went to closing across the five major localities, according to figures reported Feb. 10 by MarketStats by ShowingTime based on listing activity from Bright MLS.
That’s down from 2,374 in January 2022, when the market remained robust despite (or perhaps because of) the first whiff of higher interest rates beginning to creep into the consciousness of buyers.
All five localities saw double-digit declines year-over-year:
• Sales in Fairfax County totaled 819, down 32 percent.
• Sales in Prince William County totaled 299, down 26 percent.
• Sales in Loudoun County totaled 192, down 31 percent.
• Sales in Alexandria totaled 106, down 31 percent.
• Sales in Arlington totaled 105, down 41 percent.
Figures represent most, but not all, sales during the period. All January 2023 figures are preliminary and are subject to revision.
