Z-Real Estate

Wrapping Up 2021 and Looking Ahead For Real Estate

The Moses Hepburn was known for his real estate reputation in Alexandria, developing residences like these town homes, in which he lived in the mid-1800s. (Photo: Grace Billups Arnold)

By Lyssa Seward, the Seward Group

Alexandria, VA – Hello Zebra Readers!

What a year we have had! It’s been a bit of a seesaw with most of us getting vaccinated and returning to a more normal lifestyle and then riding the waves of Covid-19 surges and breakthroughs and having to ramp back down a bit. Covid has undoubtedly had a huge impact on the real estate market, locally, regionally, and nationally. People who, like me, never had a pandemic in our minds as a possibility were forced to reconsider almost everything we took for granted and everything we needed our homes to provide.

At the onset of the pandemic in March 2020 and continuing through 2021, people had time to reflect on “if I can work from home/anywhere, where do I want to live?” People also thought, “if this should happen again – or continue, as it has – how can my home accommodate this shift in lifestyle?”

Grandparents moved closer to grandchildren, parents of young families moved closer to their parents, and people without children made huge changes to their lives by moving to their dream location or back to their roots, as family became paramount to all.

We saw many people make big moves over the last 18 plus months. Loudon/Fauquier Counties and the Eastern Shore exploded with people desiring low-density living, lots of land, and larger living square footage. The second home market exploded as well. Where a home with a swimming pool used to be a “this will have a smaller number of potential buyers,” it shifted to “a swimming pool is highly desirable.” We, as humans, now need our homes to accommodate any future lockdowns, working from home office space, and space for children to do distance learning, should schools be locked down again (please NO!).

(Charts courtesy of the Seward Group)

Our local Alexandria market had a phenomenal year in 2021. The economic predictions for 2022 are for a bit more balanced real estate market. It is predicted that we will still technically be in a seller’s market due to low inventory, but that inflation and small upward ticks in the interest rate will make it a bit more balanced for buyers.

See the charts below for 2020 vs 2021 (YTD as we don’t have December totals until the middle of January 2022, before Zebra goes to press.)


2020 SOLD VOLUME: 778 million 2021 YTD SOLD VOLUME: 799 million

Average Sales Price: $895,399 Average Sales Price: 879,533

Units Sold: 664 Units Sold: 908

Average Days on Market: 24 Average Days on Market: 23

Wishing you the very best in 2022 – Health being paramount!

ICYMI: Turkish Coffee Lady Opening in Old Town Alexandria, Saturday, January 22

Related Articles

Back to top button