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Northern Virginia Market Quarterly - 2nd Quarter 2017
August 17th, 2017 5:06 PM

There were a total of 8,604 single family residential sales in the Northern Virginia real estate market in the 1st quarter 2017. This is up from 5,507 units sold in the 1st quarter and down from 9,553 in the same quarter 2016.    

The average sold price for single family residential properties in the 2nd quarter was $616,304, up from an average sold price of $554,561 in the previous quarter and also up from $558,828 year-over-year.  

Sold prices ranged $49,000 to a high of $5,300,000 in the 2nd quarter.  Days-on-market ranged 0 - 1,212 days with an average DOM of 29 days.  The average sold price as a percentage of the average original list price was 98%, unchanged from the same period a year earlier.  

There were 2,674 condominium unit sales in the 2nd quarter 2017, up from 2,462 units sold in the 2nd quarter 2016 and up from 1,753 units sold in the 1st quarter 2017.  The sold prices ranged $50,000 - $2,675,000 with an average sold price of $317,044. This is up from an average sold price of $307,458 in the previous quarter and also up from $312,407 year-over-year.  The average days on market was 29 days in the 2nd 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 434 single family residential sales in the City of Alexandria in the 2nd quarter.  The sold prices ranged $129,000 - $3,900,000 with a median sold price of $685,125.  This is up from $664,950 during the in the previous quarter and up from a median sold price of $659,00 in the 2nd quarter 2016.  The days-on-market ranged from 0 - 303 days with a median days-on market of 6 days.  The median sold price as a percentage of the median original list price was 99% in the 2nd quarter.     

The median sold price for condominium units in the City of Alexandria market was $291,750 in the 2nd quarter with 422 units sold and a sold price range of $100,000 - $2,675,000.  This is up from a median sold price of $281,250 in the previous quarter but down slightly from $293,000 year-over-year. The median sold price as a percentage of the original list price was 98% with a median days-on-market of 13 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 498 single family residential sales in the 2nd quarter in Arlington County.  Sold prices ranged $271,425 - $2,400,000 with a median sold price of $845,000, up from a median sold price of $805,000 year-over-year and also up from $820,000 in the 1st quarter 2017.   Days-on-market ranged from 0 - 355 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%.   

There were 472 condominium unit sales in Arlington County with a sold price range of $50,000 - $1,489,900 and a median sold price of $400,000.  This is up from a median sold price of $361,250 with 320 units sold in the previous quarter and up from $392,500 year-over-year.   Days-on-market ranged 0-411 days in the 2nd quarter with a median DOM of 9 days. The median sold price as a percentage of the median original list price was 100%. 

Check our Arlington County Monthly Market Updates.

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

Fairfax County Real Estate:

There were 4,330 single family residential sales in the Fairfax County market in the 2nd quarter 2017.  The average sold price was $644,533, up from an average sold price of $626,612 in the 1st quarter 2017 and up from $625,549 year-over-year.  The sold prices ranged from a low of $200,000 to a high of $5,300,000 in the 2nd quarter with an average days-on-market of 23 days.  The average sold price as a percentage of the average original list price was 98%.   

There were a total of 1,044 residential condominium units sold in Fairfax County in the 2nd quarter, up from 670 units in the previous quarter and up from 954 units sold during the same period a year earlier.  The sold price range was $87,000 - $1,400,000 with an average sold price of $288,915.  This is up slightly from an average sold price of $285,331 in the 1st quarter and also up from $287,540 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 32 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 107 single family residential sales in Fairfax City market in the 2nd quarter 2017 with a median sold price of $516,000, down slightly from a median sold price of $520,000 in the previous quarter and up from $499,944 in the 2nd quarter 2016.  The sold price range was $255,000 - $1,240,000 in the 2nd quarter with a median days-on-market of 10 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 2nd quarter.  The sold prices ranged $138,000 - $505,000 with a median sold price of $192,500, unchanged from the previous quarter and down from a median sold price of $196,000 year-over-year.  The median days-on-market was 5 days and the median sold price as a percentage of the median original list price was 98%. 

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

Falls Church City Real Estate:

The Falls Church City market shows 60 sales of single family residential properties in the 2nd quarter with a median sold price was $875,000 and a sold price range of $375,000 - $1,512,350.  This is up from a median sold price of $775,000 in the 1st quarter and also up from $815,000 year-over-year.   The median sales-to-list price ratio based on the original list price was 100% in the 2nd quarter with a median days-on-market of 6 days.

There were 17 condominium unit sales with a median sold price of $450,000 and a range of $168,000 - $759,900 in the 2nd quarter. This is a decline from a median sold price of $492,000 year-over-year and an increase from $318,500 in the 1st quarter 2017.  The median days-on-market was 7 days in the 2nd quarter and the median sales price as a percentage of the median original list price was 97%.

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

Loudoun County Real Estate:

There were 1,889 single family residential sales in the Loudoun County market in the 2nd quarter. The average sold price was $549,473 with a sold price range of $49,000 - $2,450,000. This is up from an average sold price of $525,963 year-over-year.  The days-on-market ranged from 0 - 604 days with an average DOM of 24 days. The average sold price to average original list-price ratio was 98%.     

There were 321 condominium unit sales in the 2nd quarter, up from 293 units sold during the same period in 2016.  The average sold price was $293,728, up from an average sold price of $287,523 in the previous quarter and up from $272,275 in the 2nd quarter 2016.   The sold price range was $82,000 - $782,964 with an average days-on-market of 26 days. The average sold price as a percentage of the average original  list price was 99% 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 180 single family residential sales in the City of Manassas during the 2nd quarter with a sold price range of $127,000 - $630,000. The median sold price was $325,500, up from a median sold price of $311,500 in the 1st quarter and up only slightly from $324,500 year-over-year.  The median days-on-market was 9 days with a range of 0 - 210 days. The median sold price as a percentage of the median original list price was 99%.

There were a total of 53 condominium unit sales in the 2nd quarter with a sold price range of $105,000 - $365,000 and a median sold price of $180,000.  This is down from a median sold price of $189,000 year-over-year.

   Call us for your real estate appraisal needs Manassas City!

Manassas Park City:

There were 56 single family residential sales in the Manassas Park City market during the 2nd quarter 2017. The sold price range was $185,000 - $450,000. The median sold price was $294,900, up from $280,000 for the same period in 2106. The median days-on-market was 7 days and the median sold price as a percentage of the median original list price was 100% in the 1st quarter.

There were 14 condominium unit sales in Manassas Park City with a price range of $102,000 - $260,000 and a median sold price of $216,500.   This is up slightly from a median sold price of $213,000 in the previous quarter and up from $202,994 for the same period in 2016.   The sales price to list price ratio was 98% in the 2nd 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 a total of 2,168 single family residential sales in the Prince William County market in the 2nd quarter, up from 2,013 units sold year-over-year. The average sales price was $403,453 with a sold price range of $71,000 - $1,600,000.  This is up slightly from an average sold price of $381,231 in the 1st quarter and up from $382,422 in the 2nd quarter 2016. The average days-on-market was 24 days with a range of 0 - 716 days. The average sold price as a percentage of the average original list price was 99%. 

There were 285 condominium unit sales in the Prince William County market in the 2nd quarter, up from 183 units sold in the previous quarter and also up from 250 units sold in the 2nd quarter 2016.  Sold prices have ranged $98,000 - $690,000 with an average sold price of $260,000.   This is up from an average sold price of $241,169 in the 1st quarter and up from $237,129 year-over-year.  The average days on market was 16 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 August 17th, 2017 5:06 PMPost a Comment

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