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Northern Virginia Market Quarterly - 3rd Quarter 2016
December 7th, 2016 6:33 PM

There were 8,526 single family residential sales in the Northern Virginia real estate market in the 3rd quarter 2016. This is down from 9,553 units sold in the 2nd quarter 2016 but up slightly from 8,266 units sold in the 3rd quarter 2015.    

The average sold price for single family residential properties in the 3rd quarter was $543,231, down from an average sold price of $558,828 in the previous quarter and up slightly from $540,190 for the same period in 2015.  

Sold prices ranged from a low of $58,000 to a high of $4,685,000 in the 3rd quarter.  Days-on-market ranged 0 - 2,115 days with an average DOM of 34 days.  The average sold price as a percentage of the average original list price was 98%, unchanged from the previous quarter and up from 97% year-over-year. 

There were 2,329 condominium unit sales in the 3rd quarter 2016, down slightly from 2,462 units sold in the 2nd quarter but up from 2,123 units sold in the same period 2015.  The sold prices ranged $80,000 - $2,410,000 with an average sold price of $308,871. This is up from an average sold price of $306,443 year-over-year and down from $312,407 in the 2nd quarter.   The average days on market was 41 days and the average sold price as a percentage of the average original list price was 98%, unchanged from the 2nd 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 328 single family residential sales in the City of Alexandria for the 3rd quarter 2016.  The sold prices ranged $285,000 - $4,685,000 with a median sold price of $652,500.  This is up from a median sold price of $650,00 during the same period a year earlier and down from a median sold price of $659,000 in the 2nd quarter 2016.  The days-on-market ranged from 0 - 262 days with a median days-on market of 16 days.  The median sold price as a percentage of the median original list price was 97% in the 3rd quarter, down from 99% in the previous quarter.    

The median sold price for condominium units in the City of Alexandria market was $272,250 in the 3rd quarter with a sold price range of $90,000 - $1,000,000.  This is down from a median sold price of $293,000 in the previous quarter and down from  $285,000 year-over-year.   The median sold price as a percentage of the original list price was 94% with a median days-on-market of 26 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 347 single family residential sales in the 3rd quarter in Arlington County.  Sold prices ranged $235,000 - $2,365,000 with a median sold price of $826,500, up from a median sold price of $775,000 year-over-year and up from $800,250 in the 2nd quarter.  Days-on-market ranged from 0 - 226 days with a median days-on-market of 11 days. The median sold price as a percentage of the median original list price was 99% in the 3rd quarter.  

There were 435 condominium unit sales in Arlington County with a sold price range of $85,000 - $2,410,000 and a median sold price of $395,000.  This is up slightly from $392,500 with 466 units sold in the previous quarter.  A similar trend can be seen year-over-year with a median sold price of $387,500 and 411 units sold.   Days-on-market has ranged 0-452 days in the 3rd quarter with a median DOM of 23 days. The median sold price as a percentage of the median original list price was 98%, down from 99% in the 2nd quarter. 

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 3,617 single family residential sales in the Fairfax County market in the 3rd quarter 2016, up from 3,451 units sold year-over-year and down from 4,137 units sold in the previous quarter.  The average sold price was $608,776,  down from an average sold price of $625,549 in the 2nd quarter and down only slightly from $611,001 year-over-year.  The sold prices ranged from a low of $183,000 to a high of $4,000,000 in the 3rd quarter.  The average days-on-market was 33 days with an average sold price as a percentage of the average original list price was 97%.   

There were 891 residential condominium unit sales in Fairfax County in the 3rd quarter, down from 954 units in the 2nd quarter but up from 775 units sold during the same period a year earlier.  The sold price range was $80,000 - $1,500,000 with an average sold price of $277,687.  This is down slightly from an average sold price of $286,720 year-over-year and $287,540 in the 2nd quarter.  The average sold price as a percentage of the average original list price was 97% with an average day-on-market of 40 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 83 single family residential sales in the Fairfax City market in the 3rd quarter with a median sold price of $505,000, up from $499,944 in the 2nd quarter and unchanged from $505,000 in the 3rd quarter 2015.  The sold price range was $299,000 - $1,410,000 in the 3rd quarter with a median days-on-market of 17 days. The median sold price as a percentage of the median original list price was 97%.

There were 21 residential condominium unit sales in the 3rd quarter.  The sold prices ranged from a low of $142,800 to a high of $595,000 with a median sold price of $175,000. This is down from a median sold price of $199,000 for the same period in 2015.  The median days-on-market was 18 days and the median sold price as a percentage of the median original list price was 93%. 

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

Falls Church City Real Estate:

Falls Church City shows 38 sales of single family residential properties in the 3rd quarter. . The median sold price was $805,000 with a sold price range of $425,000 - $1,690,000, down slightly from a median sold price of $815,000 year-over-year.   The median sales-to-list price ratio based on the original list price was 97% with a median days-on-market of 8 days.

There were 19 condominium unit sales in the Falls Church City market with a median sold price of $475,000 and a range of $120,000 - $1,055,000 in the 3rd quarter. This is an increase from a median sold price of $392,500 year-over-year.   The median days-on-market was 17 days 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 1,649 single family residential sales in Loudoun County in the 3rd quarter, down from 1,821 units sold in the 2nd quarter but up from 1,548 units sold in the 3rd quarter 2015.  The average sold price was $520,506 in the 3rd quarter with a sold price range of $129,617 - $2,500,000. This is down only slightly from an average sold price of $525,963 in the 2nd quarter and $522,022 year-over-year.  The days-on-market ranged from 0 - 2,115 days with an average DOM of 38 days. The average sold price to average original list-price ratio was 97%.     

There were 295 condominium unit sales in the 3rd quarter, virtually unchanged from 293 units sold in the 2nd quarter and up from 258 units sold year-over-year. The average sold price was $278,816, an increase from an average sold price of $272,275 in the 2nd quarter and up from $260,192 in the 3rd quarter 2105.   The sold price range was $87,313 - $750,062 with an average days-on-market of 37 days. The average sold price as a percentage of the average original  list price was 97% in the 3rd 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 151 single family residential sales in the City of Manassas in the 3rd quarter with a sold price range of $150,000 - $615,000. The median sold price was $319,500, down from $324,500 in the previous quarter and up from a median sold price of $299,900 in the 3rd quarter 2015.  The median days-on-market was 20 days with a range of 0 - 192 days. The median sold price as a percentage of the median original list price was 98%.

There were 48 condominium unit sales in the 3rd quarter with a sold price range of $125,000 - $345,000 and a median sold price of $192,250.  This is up from a median sold price of $189,000 in the 2nd quarter or the same period in 2015 and up from $167,500 year-over-year.

   Call us for your real estate appraisal needs Manassas City!

Manassas Park City:

There were a total of 58 single family residential sales in the Manassas Park City market in the 3rd quarter 2016. The sold price range was $178,994 - $508,000. The median sold price was $285,000, up from $280,000 in the previous quarter and also up $280,000 year-over-year. The median days-on-market was 21 days with a range of 0 - 231 days. The median sold price as a percentage of the median original list price was 98% in the 3rd quarter.

There were 9 condominium unit sales in Manassas Park City with a price range of $154,500 - $235,000 and a median sold price of $215,000.   This is up from a median sold price of $196,111 for the same period in 2015.   The sales price to list price ratio was 100% 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 1911 single family residential sales in the 3rd quarter 2016, down from 2013 units sold in the previous quarter and up from 1,819 units sold in the 3rd quarter 2015.  The average sales price was $380,225 with a sold price range of $131,000 - $1,325,000.  This is down only slightly from an average sold price of $382,422 in the 2nd quarter but up from $365,285 year-over-year.  The average days-on-market was 31 days with a range of 0 - 492 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 3rd quarter, unchanged from 250 units sold in the previous quarter and up from 241 units sold in the 3rd quarter 2015. . The average sold price was $246,967, up from $237,129 in the previous quarter and also up from $228,389 year-over-year.  The sold price range was $91,500 - $615,858 with an average days on market of 43 and 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!


Posted in:General
Posted by Erol Sevin on December 7th, 2016 6:33 PMPost a Comment

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