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Northern Virginia Market Quarterly - 1st Quarter 2018
May 22nd, 2018 3:52 AM

There were 5,305 single family residential sales in the Northern Virginia real estate market in the 1st quarter. This is down from 5,507 units sold year-over-year and down from 6,551 units sold in the previous quarter.    

The average sold price for single family residential properties in the 1st quarter was $582,479,  up from an average sold price of $554,461 year-over-year and also up from $571,705 in the previous quarter.  

Sold prices ranged $95,000 - $15,999,020 in the 1st quarter.  Days-on-market ranged 0 - 938 days with an average DOM of 38 days.  The average sold price as a percentage of the average original list price was 97%, unchanged from the previous  quarter.  

There were 1,807 condominium unit sales in the 1st quarter 2018, down from 1,947 units sold in the previous quarter but up from 1,753 units sold in the 1st quarter 2017.  The sold prices ranged $96,000 - $3,250,000 with an average sold price of $326,058.  This is up only slightly from an average sold price of $325,185 in the previous quarter and up from $307,458 year-over-year.  The average days on market was 37 days in the 1st quarter 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 260 single family residential sales in the City of Alexandria in the 1st quarter.  The sold prices ranged $285,000 - $1,950,000 with a median sold price of $693,500.  This is up from a median sold price of $661,000 in the previous quarter and also up from a median sold price of $664,950 during the same period a year earlier in the 1st quarter 2017.  The days-on-market ranged from 0 - 169 days with a median days-on market of 13 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 $271,000 in the 1st quarter with 303 units sold and a sold price range of $85,000 - $1,755,000.  This is down from a median sold price of $281,250 year over year and also down from $303,425 in the previous quarter.  The median sold price as a percentage of the original list price was 97% with a median days-on-market of 19 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 a total of 237 single family residential sales for the 1st quarter in Arlington County.  Sold prices ranged $320,000 - $2,400,000 with a median sold price of $823,000, up slightly from a median sold price of $820,000 year-over-year and also up from $795,150 in the 4th quarter 2017. Days-on-market ranged from 0 - 218 days with a median days-on-market of 8 days.  The median sold price as a percentage of the median original list price was 99%, up from 97% in the previous quarter.   

There were 324 condominium unit sales in Arlington County with a sold price range of $95,000 - $2,775,000 and a median sold price of $399,900.  This is up slightly from a median sold price of $398,250 with 372 units sold in the previous quarter and also up from $361,250 year-over-year with 320 units sold.   Days-on-market ranged 0-500 days in the 1st quarter with a median DOM of 16 days. The median sold price as a percentage of the median original list price was 99%. 

Check our Arlington County Monthly Market Updates.

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

Fairfax County Real Estate:

There were 2,151single family residential sales in the Fairfax County market in the 1st quarter 2018.  The average sold price was $638,820, down slightly from an average sold price of $644,416 in the previous quarter and up from $626,612 year-over-year with 2,285 units sold.  The sold prices ranged from a low of $131,740 to a high of $12,00,000 in the 1st quarter with an average days-on-market was 36 days.  The average sold price as a percentage of the average original list price was 97%, up from 96% in the previous quarter.   

There were 708 residential condominium units sold in Fairfax County for the 1st quarter, down only slightly from 712 units in the previous quarter and up from 670 units sold during the 1st quarter 2017. The sold price range was $92,000 - $1,330,000 with an average sold price of $285,399.  This is virtually unchanged from an average sold price of $285,331 year-over-year and $285,366 in the previous quarter.  The average sold price as a percentage of the average original list price was 97% with an average day-on-market of 41 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 59 single family residential sales in the Fairfax City market in the 1st quarter with a median sold price of $574,000.  This is up from a median sold price of $560,000 with 69 sales in the previous quarter and also up from a median sold price of 520,000 in the 1st quarter 2017.  The sold price range was $260,000 - $1,210,000 in the 1st quarter with a median days-on-market of 22 days. The median sold price as a percentage of the median original list price was 99%.

There were 22 residential condominium unit sales in the 1st quarter.  The sold prices ranged $155,000 - $628,221 with a median sold price of $288,125, up from a median sold price of $192,500 year-over-year.  The median days-on-market was 6 days and the median sold price as a percentage of the median original list price was 101%. 

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

Falls Church City Real Estate:

There were 12 sales of single family residential properties in City of Falls Church in the 1st quarter with a median sold price was $737,500 and a sold price range of $590,000 - $1,415,000.  This is down from $775,000 in the 1st quarter 2017.   The median sales-to-list price ratio based on the original list price was 97% in the 1st quarter with a median days-on-market of 9 days.

There were 10 condominium unit sales in Falls Church City with a median sold price of $431,250 and a range of $170,000 - $701,150 in the 1st quarter.  The median days-on-market was 5 days and the median sales price as a percentage of the median original list price was 100%.

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

Loudoun County Real Estate:

There were a total of 1,031 single family residential sales in the Loudoun County market for the 1st quarter with an average sold price $555,175 and a sold price range of $105,800 - $2,499,000. This is up slightly from an average sold price of $553,768 with 1,276 sales in the previous quarter and also up from $516,208 with 1,047 units  for the same period in 2017.  The days-on-market ranged 0 - 614 days with an average DOM of 37 days. The average sold price to average original list-price ratio was 98%.     

There were 227 condominium unit sales in the 1st quarter, up from 210 units sold during the 1st quarter in 2017.  The average sold price was $308,000, up  from an average sold price of $297,500 in the previous quarter and also up from $266,200 year-over-year.   The sold price range was $99,694 - $799,945 with an average days-on-market of 8 days. The average sold price as a percentage of the average original  list price was 99% 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 103 single family residential sales in the City of Manassas in the 1st quarter with a sold price range of $107,500 - $589,900. The median sold price was $310,000, down from a median sold price of $339,000 in the previous quarter and also down only slightly from a median sold price of  $311,500 year-over-year.  The median days-on-market was 27 days in the 1st quarter with a range of 0 - 297 days. The median sold price as a percentage of the median original list price was 95%.

There were a total of 30 condominium unit sales in the 1st quarter with a sold price range of $127,000 - $300,000 and a median sold price of $169,000.  This is down from a median sold price of $182,000 in the previous quarter and also down from a median sold price of $190,000 year-over-year.

   Call us for your real estate appraisal needs Manassas City!

Manassas Park City:

There were 39 single family residential sales in the Manassas Park City market during the 1st quarter 2018. The sold price range was $204,000 - $460,000. The median sold price was $295,000, up from $279,900 in the previous quarter and also up from $272,000 for the same period in 2017. The median days-on-market was 19 days and the median sold price as a percentage of the median original list price was 92% in the 1st quarter.

There was a total of 11 condominium unit sales in Manassas Park City with a sold price range of $107,000 - $261,000 and a median sold price of $225,000.   This is up  from a median sold price of $215,000 in the previous quarter and also up from $213,000 year-over-year.  The sales price to list price ratio was 98% in the 1st quarter with a median days-on-market was 13 days.  

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

Prince William County Real Estate:

There were 1,158 single family residential sales in the Prince William County market for the 1st quarter, down from 1,244 units sold year-over-year. The average sales price was $400,272 with a sold price range of $115,000 - $1,175,000.  This is up from an average sold price of $396,965 in the previous quarter and up from $381,231 in the 1st quarter 2017. The average days-on-market was 36 days in the 1st quarter with a range of 0 - 357 days. The average sold price as a percentage of the average original list price was 98%. 

There were a total of 169 condominium unit sales in the Prince William County market for the 1st quarter, down from 192 units sold in the previous quarter and  also down from 183 units sold in the 1st quarter 2017.  Sold prices have ranged $105,500 - $457,000 with an average sold price of $254,990.  This is down from an average sold price of $258,950 in the previous quarter but up from $241,169 for the same period a year earlier in the 1st quarter 2017.  The average days on market was 33 days in the 1st quarter with a sales-to-list-price ratio was 98%.  

Check out our Prince William County Monthly Market Updates.


Posted in:General
Posted by Erol Sevin on May 22nd, 2018 3:52 AMPost a Comment

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