How is COVID-19 Impacting the Burke Real Estate Market?

After a short slowdown in showings, buyers are back out looking for homes again. MLS stats show that home showings are up from previous weeks and continue to increase.

Here is the latest stats on what's happening in the Burke Real Estate Market last month:

• 69 homes in Burke came on the market
• 56 went under contract
• 49 closed sales - The median days on market was 6 days with sellers getting 100.8% of the original list price.

This indicates that Burke is still a seller's market! Compared to last year, in April 2019, there were 79 new listings, 71 under contract, and 73 closed sales in Burke. The median days on market was 6 days with sellers getting 101.1% of their list price, indicating that, while these are less volume of sales, COVID-19 has not yet significantly impacted Burke home sales.

Interested in what is happening specifically in your neighborhood in Burke? Get our custom tailored monthly market update to see if home values are going up or down in your neighborhood.

Home buyers are spending more time online looking for homes and buyer traffic remains strong in Virginia. According to ShowingTime, the number of buyers scheduling showings for homes has steadily increased in the last month. Showings are up 12% compared to January 2020 and we are getting closer to last year's numbers as well. Buyers who wanted to "wait and see" are now back in the market.

Check out the latest homes for sale in Burke:

We will keep you up to date with the latest Burke real estate information and statistics here on Patch. If you have any questions about your specific situation, please reach out to Peggy directly at 703-420-3499 or email her at Peggy@PeggyYee.com.

This post is supported by our National Real Estate Partner at 72SOLD, where we will sell your home in 72 Hours for thousands of dollars more than a traditional real estate agent. Just go to our website at 72SoldNow.com to get a price for your home.