NORTHERN VIRGINIA HOUSING MARKET DATA

There was a decrease in total units sold in January, with 1,769 sold this month in Northern Virginia Real Estate versus 2,501 last month, a decrease of 29%. This month's total units sold was higher than at this time last year, an increase of 2% versus January 2024.

Versus last year, the total number of homes available this month is lower by 89 units or 3%. The total number of active inventory this January was 3,138 compared to 3,227 in January 2024. This month's total of 3,138 is lower than the previous month's total supply of available inventory of 3,389, a decrease of 7%.

Last January, the median sale price for Northern Virginia Homes was $580,000. This January, the median sale price was $605,000, an increase of 4% or $25,000 compared to last year. The current median sold price is 3% lower than in December.

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

In January, there was 1.8 months of supply available in Northern Virginia. The amount of supply is similar compared to 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 2,217 homes newly listed for sale in Northern Virginia compared to 2,804 in January 2024, a decrease of 21%. There were 1,957 current contracts pending sale this January compared to 2,198 a year ago. The number of current contracts is 11% lower than last January.

In January, the average sale price in Northern Virginia was 99.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 33, higher than the average last year, which was 31, an increase of 6%.





FOCUS ON: NORTHERN VIRGINIA HOUSING MARKET			JANUARY 2025

Units Sold 1,769	Active Inventory 3,138	Median Sale Price $605,000	Days On Market 33

Up 2% Vs. Year Ago	Down -3% Vs. Year Ago	Up 4% Vs. Year Ago	Up 6% Vs. Year Ago


		Units Sold There was a decrease in total units sold in January, with 1,769 sold this month in Northern Virginia Real Estate versus 2,501 last month, a decrease of 29%. This month's total units sold was higher than at this time last year, an increase of 2% versus January 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 89 units or 3%. The total number of active inventory this January was 3,138 compared to 3,227 in January 2024. This month's total of 3,138 is lower than the previous month's total supply of available inventory of 3,389, a decrease of 7%.
		Median Sale Price Last January, the median sale price for Northern Virginia Homes was $580,000. This January, the median sale price was $605,000, an increase of 4% or $25,000 compared to last year. The current median sold price is 3% lower than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 2,217	Current Contracts 1,957	Sold Vs. List Price 99.2%	Months of Supply 1.8

Down -21% Vs. Year Ago	Down -11% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In January, there was 1.8 months of supply available in Northern Virginia. The amount of supply is similar compared to 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 2,217 homes newly listed for sale in Northern Virginia compared to 2,804 in January 2024, a decrease of 21%. There were 1,957 current contracts pending sale this January compared to 2,198 a year ago. The number of current contracts is 11% lower than last January.
		Sale Price to List Price Ratio In January, the average sale price in Northern Virginia was 99.2% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 33, higher than the average last year, which was 31, an increase of 6%.


	*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.