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Northern Virginia Market Quarterly - 1st Quarter 2017
April 16th, 2017 3:18 PM

There were 5,507 single family residential sales in the Northern Virginia real estate market in the 1st quarter 2017. This is down from 6,565 units sold in the 4th quarter 2016 but up from 5,196 units sold year-over-year.    

The average sold price for single family residential properties in the 4th quarter was $554,561, up slightly from an average sold price of $551,620 in the previous quarter and also up from $527,543 in the 1st quarter 2016.  

Sold prices ranged from a low of $94,000 to a high of $12,000,000 in the 1st quarter.  Days-on-market ranged 0 - 1,222 days with an average DOM of 42 days.  The average sold price as a percentage of the average original list price was 98%, up from 96% year-over-year. 

There were a total of 1,753 condominium unit sales in the 1st quarter 2017, down from 1,936 units sold in the 4th quarter 2016 and up from 1,506 units sold in the same quarter 2016.  The sold prices ranged $80,000 - $2,387,500 with an average sold price of $307,458. This is up from an average sold price of $303,916 year-over-year and down from $315,449 in the 4th quarter 2016.   The average days on market was 47 days and the average sold price as a percentage of the average original list price was 98%. 

The Northern Virginia real estate market includes: Alexandria City, Arlington County, Fairfax County, Fairfax City, Falls Church City, Fauquier County, Loudoun County, Manassas City, Manassas Park City, and Prince William County.

Alexandria City Real Estate:

There were a total of 228 single family residential sales in the City of Alexandria in the 1st quarter 2017.  The sold prices ranged $325,000 - $2,725,000 with a median sold price of $664,950.  This is up slightly from $656,233 during the in the previous quarter and up from a median sold price of $650,00 in the 1st quarter 2016.  The days-on-market ranged from 0 - 254 days with a median days-on market of 14 days.  The median sold price as a percentage of the median original list price was 99% in the 1st quarter.     

The median sold price for condominium units in the City of Alexandria market was $281,250 in the 1st quarter with 272 units sold and a sold price range of $95,000 - $1,090,000.  This is up slightly from a median sold price of $280,000 in the previous quarter and up from $253,500 year-over-year. The median sold price as a percentage of the original list price was 99% with a median days-on-market of 18 days.

Check our Alexandria City Monthly Market Updates.

   Call today for all of your real estate appraisal needs in Alexandria City!

Arlington County Real Estate:

There were 259 single family residential sales in the 1st quarter in Arlington County.  Sold prices ranged $245,000 - $2,825,000 with a median sold price of $820,000, up from a median sold price of $740,000 year-over-year and up from $776,000 in the 4th quarter 2016.   Days-on-market ranged from 0 - 489 days with a median days-on-market of 11 days.  The median sold price as a percentage of the median original list price was 100%.   

There were a total of 320 condominium unit sales in Arlington County with a sold price range of $95,000 - $2,387,500 and a median sold price of $361,250.  This is down from a median sold price of $394,000 with 336 units sold in the previous quarter and down from $394,500 year-over-year.   Days-on-market ranged 0-688 days in the 1st quarter with a median DOM of 22 days. The median sold price as a percentage of the median original list price was 97%. 

Check our Arlington County Monthly Market Updates.

   Call today for your real estate appraisal needs  in Arlington County!

Fairfax County Real Estate:

There were 2,285 single family residential sales in the Fairfax County market in the 1st quarter 2017.  The average sold price was $626,612, up slightly from an average sold price of $611,997 in the 4th quarter 2016 and up from $591,915 year-over-year.  The sold prices ranged from a low of $180,000 to a high of $12,000,000 in the 1st quarter with an average days-on-market was 43 days.  The average sold price as a percentage of the average original list price was 97%.   

There were a total of 670 residential condominium units sold in Fairfax County in the 1st quarter, down from 719 units in the 4th quarter 2016 and up from 630 units sold during the same period a year earlier.  The sold price range was $80,000 - $1,700,000 with an average sold price of $285,331.  This is up from an average sold price of $282,926 year-over-year.   The average sold price as a percentage of the average original list price was 97% with an average day-on-market of 49 days. 

Check out our Fairfax County Monthly Market Updates.

   Call today for your real estate appraiser needs in Fairfax County!

Fairfax City Real Estate:

There were a total of 63 single family residential sales in Fairfax City in the 1st quarter 2017 with a median sold price of $520,000, down slightly from a median sold price of $525,000 in the 4th quarter 2016 and up from $484,000 in the 1st quarter 2017.  The sold price range was $342,000 - $1,367,555 in the 1st quarter with a median days-on-market of 23 days. The median sold price as a percentage of the median original list price was 97%.

There were 22 residential condominium unit sales in the 1st quarter.  The sold prices ranged $132,000 - $540,000 with a median sold price of $192,500. This is up slightly from a median sold price of $189,950 year-over-year.  The median days-on-market was 31 days and the median sold price as a percentage of the median original list price was 97%. 

   Call today for your real estate appraiser needs in Fairfax City!

Falls Church City Real Estate:

The Falls Church City market shows 23 sales of single family residential properties in the 1st quarter with a median sold price was $775,000 and a sold price range of $510,000 - $1,517,500.  This is up from a median sold price of $744,750 year-over-year.   The median sales-to-list price ratio based on the original list price was 102% in the 1st quarter with a median days-on-market of 6 days.

There were 20 condominium unit sales in Falls Church City with a median sold price of $318,500 and a range of $150,000 - $1,039,900 in the 1st quarter. This is a decline from a median sold price of $446,250 year-over-year.   The median days-on-market was 36 days in the 1st quarter and the median sales price as a percentage of the median original list price was 98%.

   Call today for all of your real estate appraiser needs in Falls Church City!

Loudoun County Real Estate:

There were a total of 1,047 single family residential sales in the Loudoun County market in the 1st quarter. The average sold price was $516,208 with a sold price range of $120,000 - $2,650,000. This is up from an average sold price of $06,104 year-over-year.  The days-on-market ranged from 0 - 1,222 days with an average DOM of 40 days. The average sold price to average original list-price ratio was 97%.     

There were 210 condominium unit sales in the 1st quarter, up from 183 units sold in the same period 2016.  The average sold price was $287,523, up from an average sold price of $272,533 in the 4th quarter 2016 and up from $266,200 in the 1st quarter 2016.   The sold price range was $122,500 - $680,000 with an average days-on-market of 48 days. The average sold price as a percentage of the average original  list price was 97% in the 1st quarter.

Check out our Loudoun County Monthly Market Updates.

   Call us today for all of your real estate appraiser needs in Loudoun County!

Manassas City Real Estate:

There were a total of 98 single family residential sales in the City of Manassas in the 1st quarter with a sold price range of $120,000 - $750,000. The median sold price was $311,500, down slightly from a median sold price of $315,000 in the 1st quarter 2016.  The median days-on-market was 20 days with a range of 0 - 205 days. The median sold price as a percentage of the median original list price was 96%.

There were 35 condominium unit sales in the 1st quarter with a sold price range of $127,500 - $344,999 and a median sold price of $190,000.  This is up from a median sold price of $179,900 year-over-year.

   Call us for your real estate appraisal needs Manassas City!

Manassas Park City:

There were 49 single family residential sales in the Manassas Park City market in the 1st quarter 2017. The sold price range was $155,000 - $475,000. The median sold price was $272,000, down from $315,000 for the same period 2106. The median days-on-market was 25 days with a range of 0 - 180 days.  The median sold price as a percentage of the median original list price was 97% in the 1st quarter.

There were 15 condominium unit sales in Manassas Park City with a price range of $122,500 - $260,000 and a median sold price of $213,000.   This is up from a median sold price of $189,950 for the same period in 2016.   The sales price to list price ratio was 97% based on original list price and the median days-on-market was 27 days.  

   Call us today for your real estate appraisal needs in Manassas Park City!

Prince William County Real Estate:

The Prince William County market showed a total of 1,244 single family residential sales in the 1st quarter 2017, up from 1,151 units sold year-over-year. The average sales price was $381,231 with a sold price range of $120,000 - $1,535,000.  This is up slightly from an average sold price of $380,674 in the 4th quarter 2016 and up from $371,323 year-over-year.  The average days-on-market was 41 days with a range of 0 - 510 days. The average sold price as a percentage of the average original list price was 97%. 

There were 183 condominium unit sales in the Prince William County market for the 1st quarter, down from 201 units sold in the previous quarter but up from 168 units sold in the 1st quarter 2016.  Sold prices ranged $95,000 - $569,900 with an average sold price of $241,169.   This is up from an average sold price of $237,450 in year-over-year.  The average days on market was 41 days with a sales-to-list-price ratio was 98%.  

Check out our Prince William County Monthly Market Updates.

   Call us today for all of your real estate appraisal needs in Prince William County!


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Posted by Erol Sevin on April 16th, 2017 3:18 PMPost a Comment

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