Here’s a quick update on what’s going on in our Northern Virginia market.
Though we’re in the middle of the holiday season, everyone is still very curious about how the Northern Virginia real estate market is doing. The market cooled down a little in September, but it came roaring back over the past few months. At the end of October, the median sales price was $570,000, which is up 3.6% over the previous month and 8.5% over the previous year.
New listings are at 4,046, which is down by 15% over the month before and 17% over last year. This is typical because many people don’t want to list their homes during the holidays. The average days on market stands at 19 days, meaning that the real estate market is still very strong.
If you have any questions about the market or how conditions will affect your real estate plans, don’t hesitate to contact me via phone or email. I’d love to hear from you.
