NORTHERN VIRGINIA HOUSING MARKET DATA

There was an increase in total units sold in March, with 2,426 sold this month in Northern Virginia Real Estate versus 1,918 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 4% versus March 2024.

Versus last year, the total number of homes available this month is higher by 319 units or 8%. The total number of active inventory this March was 4,518 compared to 4,199 in March 2024. This month's total of 4,518 is lower than the previous month's total supply of available inventory of 4,565, a decrease of 1%.

Last March, the median sale price for Northern Virginia Homes was $635,000. This March, the median sale price was $670,000, an increase of 6% or $35,000 compared to last year. The current median sold price is 5% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In March, there was 1.9 months of supply available in Northern Virginia, compared to 1.7 in March 2024. That is an increase of 13% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 3,998 homes newly listed for sale in Northern Virginia compared to 4,072 in March 2024, a decrease of 2%. There were 3,455 current contracts pending sale this March compared to 3,240 a year ago. The number of current contracts is 7% higher than last March.

In March, the average sale price in Northern Virginia was 100.8% of the average list price, which is 0.6% lower than at this time last year.

This month, the average number of days on market was 23, higher than the average last year, which was 21, an increase of 10%.





FOCUS ON: NORTHERN VIRGINIA HOUSING MARKET			MARCH 2025

Units Sold 2,426	Active Inventory 4,518	Median Sale Price $670,000	Days On Market 23

Down -4% Vs. Year Ago	Up 8% Vs. Year Ago	Up 6% Vs. Year Ago	Up 10% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 2,426 sold this month in Northern Virginia Real Estate versus 1,918 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 4% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 319 units or 8%. The total number of active inventory this March was 4,518 compared to 4,199 in March 2024. This month's total of 4,518 is lower than the previous month's total supply of available inventory of 4,565, a decrease of 1%.
		Median Sale Price Last March, the median sale price for Northern Virginia Homes was $635,000. This March, the median sale price was $670,000, an increase of 6% or $35,000 compared to last year. The current median sold price is 5% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 3,998	Current Contracts 3,455	Sold Vs. List Price 100.8%	Months of Supply 1.9

Down -2% Vs. Year Ago	Up 7% Vs. Year Ago	Down -0.6% Vs. Year Ago	Up 12% Vs. Year Ago


		Months of Supply In March, there was 1.9 months of supply available in Northern Virginia, compared to 1.7 in March 2024. That is an increase of 13% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 3,998 homes newly listed for sale in Northern Virginia compared to 4,072 in March 2024, a decrease of 2%. There were 3,455 current contracts pending sale this March compared to 3,240 a year ago. The number of current contracts is 7% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Northern Virginia was 100.8% of the average list price, which is 0.6% lower than at this time last year. Days on Market This month, the average number of days on market was 23, higher than the average last year, which was 21, an increase of 10%.


	*Defined as the counties of Arlington, Culpeper, Fairfax, Fauquier, King George, Loudoun, Orange, Prince William, Spotsylvania, and Stafford and the cities of Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas, and Manassas Park in VA.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.