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Northern Virginia Market Quarterly - 2nd Quarter 2016
July 22nd, 2016 2:56 PM

There were 9,553 single family residential sales in the Northern Virginia real estate market in the 2nd quarter 2016. This is up from 9,015 units sold in the 2nd quarter 2015 and up from 5,196 units sold in the 1st quarter 2016.    

The average sold price for single family residential properties in the 2nd quarter was $558,828, up from an average sold price of $527,543 in the previous quarter and also up from $551,474 for the same period in 2015.  

Sold prices ranged from a low of $50,500 to a high of $8,200,000 in the 2nd quarter.  Days-on-market ranged 0 - 1,238 days with an average DOM of 30 days.  The average sold price as a percentage of the average original list price was 98%, up from 96% in the previous quarter and unchanged from 98% year-over-year. 

There were 2,462 condominium unit sales in the 2nd quarter 2016, up from 1,506 units sold in the 1st quarter and also up from 2,225 units sold in the same period 2015.  The sold prices ranged $83,000 - $2,325,000 with an average sold price of $312,407. This is up from an average sold price of $303,916 in the previous quarter but down from $319,950 year-over-year.  The average days on market was 36 days and the average sold price as a percentage of the average original list price was 98%, up from 96% in the 1st quarter. 

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 407 single family residential sales in the City of Alexandria for the 2nd quarter 2016.  The sold prices ranged $275,000 - $2,500,000 with a median sold price of $659,000.  This is up from a median sold price of $650,00 in the previous quarter and up from $644,950 in the 2nd quarter 2015.  The days-on-market ranged from 0 - 312 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% in the 2nd quarter, unchanged from the same period a year earlier.    

The median sold price for condominium units in the City of Alexandria market was $293,000 with a range of $83,000 - $2,325,000.  This is up from a median sold price of $253,500 in the previous quarter and up from a median sold price of $285,000 year-over-year.   The median sold price as a percentage of the original list price was 99% with a median days-on-market of 8 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 433 single family residential sales in the 2nd quarter in Arlington County.  Sold prices ranged $305,000 - $3,343,085 with a median sold price of $805,000, up slightly from a median sold price of $800,250 year-over-year.  Days-on-market ranged from 0 - 497 days with a median days-on-market of 7 days. The median sold price as a percentage of the median original list price was 99% in the 2nd quarter.  

There were 466 condominium unit sales in Arlington County with a sold price range of $90,000 - $1,520,000 and a median sold price of $392,500.  This is down only slightly from $394,500 in the 1st quarter and down from $399,989 in the 2nd quarter 2015.  Days-on-market has ranged 0-363 days with a median DOM of 15 days. The median sold price as a percentage of the median original list price was 98%, up from 96% in the previous quarter and down from 99% year-over-year.

Check our Arlington County Monthly Market Updates.

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

Fairfax County Real Estate:

There were a total of 4,137 single family residential sales in the Fairfax County market in the 2nd quarter 2016, up from 3,932 units sold year-over-year and up from 2,110 units sold in the previous quarter.  The average sold price was $625,549 in  up from $591,915 in the 1st quarter and up from an average sold price of $611,348 year-over-year.  The sold prices ranged $159,600 - $4,250,000 in the 2nd quarter.  The average days-on-market was 29 days in the 2nd quarter with an average sold price as a percentage of the average original list price was 97%, unchanged from the same period a year earlier.  

There were 954 residential condominium unit sales in Fairfax County in the 2nd quarter, up from 630 units in the 1st quarter and also up from 831 units sold year-over-year. The sold price range was $92,500 - $1,750,000 with an average sold price of $287,540.  This is down slightly from an average sold price of $290,295 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 39 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 78 single family residential sales in the Fairfax City market in the 2nd quarter with a median sold price of $499,944, up from $484,000 in the 1st quarter and down from $514,500 year-over-year.  The sold price range was $305,000 - $1,078,000 in the 2nd quarter with a median days-on-market of 13 days. The median sold price as a percentage of the median original list price was 99%.

There were 16 residential condominium unit sales in the 2nd quarter.  The sold prices ranged $149,000 - $539,500 with a median sold price of $196,000. This is up from a median sold price of $189,950 in the 1st quarter and down from $210,500 year-over-year. The median days-on-market was 11 days and the median sold price as a percentage of the median original list price was 94%. 

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

Falls Church City Real Estate:

Falls Church City shows 39 sales of single family residential properties in the 2nd quarter. . The median sold price was $815,000 with a sold price range of $574,900 - $1,795,000, down from a median sold price of $825,000 year-over-year.   The median sales-to-list price ratio based on the original list price was 99% with a median days-on-market of 10 days.

There were 22 condominium unit sales in the Falls Church City market with a median sold price of $492,000 and a range of $217,000 - $740,000 in the 2nd quarter. This is an increase from a median sold price of $412,000 year-over-year.   The median days-on-market was 9 days and the median sales price as a percentage of the median original list price was 99%.

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

Loudoun County Real Estate:

There were a total of 1,821 single family residential sales in Loudoun County in the 2nd quarter, up from 1,039 units sold in the 1st quarter and up from 1,757 units for the same period a year earlier.  The average sold price was $525,963 with a sold price range of $75,000 - $7,449,963. This is up from an average sold price of $506,104 in the 1st quarter and up from $520,582 year-over-year.  The days-on-market ranged from 0 - 707 days with an average DOM of 30 days. The average sold price to average original list-price ratio was 99%, up from 96% in the previous quarter.    

There were 293 condominium unit sales in the 2nd quarter, up sharply from 183 units sold in the 1st quarter and also up from 250 units sold year-over-year. The average sold price was $272,275, an increase from an average sold price of $266,200 in the 1st quarter and up slightly year-over-year from $268,616. The sold price range was $92,800 - $560,000 with an average days-on-market of 31 days. The average sold price as a percentage of the average original  list price was 98% in the 2nd 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 162 single family residential sales in the City of Manassas in the 2nd quarter with a sold price range of $150,000 - $665,000. The median sold price was $324,500, up from $310,000 in the previous quarter and up from a median sold price of $299,900 in the 2nd quarter 2015.  The median days-on-market was 11 days with a range of 0 - 275 days. The median sold price as a percentage of the median original list price was 98%.

There were 50 condominium unit sales in the 2nd quarter with a sold price range of $85,000 - $349,900 and a median sold price of $189,000.  This is down from a median sold price of $195,000 for the same period in 2015.

   Call us for your real estate appraisal needs Manassas City!

Manassas Park City:

There were a total of 59 single family residential sales in the Manassas Park City market in the 2nd quarter 2016. The sold price range was $153,300 - $510,000. The median sold price was $280,000, down from $315,000 in the previous quarter and up only slightly from $278,500 year-over-year. The median days-on-market was 18 days with a range of 0 - 118 days. The median sold price as a percentage of the median original list price was 98% in the 2nd quarter.

There were 8 condominium unit sales in Manassas Park City with a price range of $145,000 - $225,000 and a median sold price of $202,994, up from a median sold price of $196,000 for the same period in 2015.   The sales price to list price ratio was 99% based on original list price and the median days-on-market was 11 days.  

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

Prince William County Real Estate:

Prince William County showed a total of 2013 single family residential sales in the 2nd quarter 2016, up from 1,151 units sold in the previous quarter and also up  from 1,837 units sold year-over-year.  The average sales price was $382,422 with a sold price range of $89,000 - $1,227,500.  This is up from an average sold price of $371,323 in the 1st quarter and up from $375,522 year-over-year.  The average days-on-market was 32 days with a range of 0 - 1,003 days. The average sold price as a percentage of the average original list price was 98%. 

There were 250 condominium unit sales in the Prince William County market for the 2nd quarter, up from 168 units sold in the previous quarter and up from 206 units sold in the 2nd quarter 2015. . The average sold price was $237,129, virtually unchanged from $237,000 in the previous quarter and $238,000 year-over-year.  The sold price range was $95,000 - $500,000 with an average days on market of 35 days in the 1st quarter. The 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!


Posted in:General
Posted by Erol Sevin on July 22nd, 2016 2:56 PMPost a Comment

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