There were 8,075 single family residential sales in the Northern Virginia real estate market in the 2nd quarter 2014, up from 4,519 sales in the 1st quarter and down from 9,105 sales in the 2nd quarter 2103.
The average sold price for single family residential properties was $552,439 in the 2nd quarter, up from $506,458 in the 1st quarter and up from an average sold price of $539,318 in the 2nd quarter 2013.
Sold prices ranged from a low of $103,001 to a high of $6,500,000. Days-on-market ranged 0-1,289 days with an average DOM of 30 days. The average sold price as a percentage of the average original list price was 98%, up 96% in the previous quarter and down slightly from 99% for the same period a year ago.
There were 2,148 condominium unit sales in the 2nd quarter. The sold price ranged $45,000 - $3,750,000 with an average sold price of $313,710. This is virtually unchanged from an average sold price of $314,193 in the 2nd quarter 2013.
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 389 single family residential sales in the City of Alexandria in the 2nd quarter 2014. The sold price range was $265,000 - $2,200,000 with a median sold price of $665,000. This is up from an average sold price of $601,225 in the previous quarter and an increase from $630,00 year-over-year. The days-on-market has ranged from 0 - 378 days with a median days-on market of 10 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 Alexandria City market was $299,900 up from $292,500 for the same period in 2013. The sold price range was $105,000 - $1,125,000 in the 2nd quarter. The median sold price as a percentage of the original list price was 98% with a median days-on-market of 18.
Check our Alexandria City Monthly Market Updates.
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Arlington County Real Estate:
There were a total of 424 single family residential sales in the 2nd quarter. Sold prices ranged $240,000 - $2,518,000 with a median sold price of $797,203, up from a median sold price of $727,500 in the previous quarter and up from $741,325 in the 2nd quarter 2013. Days-on-market ranged from 0 - 351 days with a median days-on-market of 7 days. The median sold price as a percentage of the median original list price was 102% in the 2nd quarter.
There were 430 condominium unit sales with a sold price range of $45,000 - $3,750,000 and a median sold price of $390,000. This is a slight increase from a median sold price of $387,000 in the 1st quarter and a decline from $402,500 year-over-year. Days-on-market has ranged 0-333 days with a median DOM of 11 days. The median sold price as a percentage of the median original list price was 99%.
Check our Arlington County Monthly Market Updates.
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Fairfax County Real Estate:
There a total of 3,431 single family residential sales in Fairfax County in the 2nd quarter. The average sold price was $631,892 with a sold price range of $207,900 - $7,500,000.
This is an increase from an average sold price of $607,836 for the same period a year earlier. The average days-on-market was 24 days in the 2nd quarter with the average sold price as a percentage of the average original list price has been 98%, up from 96% in the 1st quarter.
There were 797 residential condomininium sales in Fairfax County in the 2nd quarter 2014, down from 856 units sold in the 2nd quarter 2013. The sold price range was $81,000 - $1,725,000 with an average sold price of $288,300. This is an increase from an average sold price of $283,117 year-over-year. The average sold price as a percentage of the average original list price has been 98% with an average day-on-market of 26 days.
Check out our Fairfax County Monthly Market Updates.
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Fairfax City Real Estate:
There were 86 single family residential sales in the Fairfax City market in the 2nd quarter with a median sold price was $514,500, up from $474,750 in the 2nd quarter 2013. The sold price range was $285,000 - $1,240,000 in the 2nd quarter with a median days-on-market of 15 days. The median sales price to median original list price was 98%.
There were 15 residential condominium unit sales in the 2nd quarter, down from 20 units sold in the 2nd quarter 2013. The sold price range was $145,000 - $340,000 with a median sold price of $195,000, virtually unchanged from $194,750 year-over-year. The median days-on-market was 9 days with a range of 1 -55 days.
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Falls Church City Real Estate:
The city of Falls Church had 34 sales of single family residential properties in the 2nd quarter. The median sold price was $838,500 with a sold price range of $557,000 - $1,307,000. This is an increase from a median sold price of $709,500 year-over-year. The median days-on-market was 6 days with a range of 0 - 94 days. The median sales-to-list price ratio based on the original list price was 104%.
There were 19 Condominium unit sales in Falls Church City with a median sold price of $385,000 and a range of $205,000 - $720,000. This compares to a median sold price of $429,900 year-over-year. The median days-on-market was 6 days.
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Loudoun County Real Estate:
There were a total of 1,508 single family residential sales in Loudoun County in the 2nd quarter, down from 1,701 units in the 2nd quarter 2013. The average sold price was $530,778 with a sold price range of $145,000 - $2,900,000. This is an increase from an average sold price of $487,865 in the 1st quarter and an increase from $499,321 year-over-year. The days-on-market ranged from 0 - 1,289 days with an average of 44 days. The average sold price to average list-price ratio was 98% based on the original list price.
There were 253 condominium unit sales in the 2nd quarter, up from 227 units sold in the 2nd quarter 2013. The average sold price was $273,621, an increase from a average sold price of $250,500 year-over-year. The sold price range was $145,000 - $2,900,000 with an average days-on-market of 35 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.
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Manassas City Real Estate:
The City of Manassas saw a total of 150 single family residential sales in the 2nd quarter 2014 with a sold price range was $121,000 - $572,000. The median sold price was $297,773, up from $265,000 in the 1st quarter and up from $280,000 year-over-year. The median days-on-market was 16 days with a range of 0 - 334 days. The median sold price as a percentage of the median original list price was 98% in the 1st quarter.
There were 32 condominium unit sales in the 2nd quarter with a sold price range of $120,000 - $298,000 and a median sold price of $186,500. This is an increase from a median sold price of $140,000 in the 2nd quarter 2013.
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Manassas Park City:
There were 50 single family residential sales in the Manassas Park City market in the 2nd quarter 2014. The sold price range was $167,000 - $515,000. The median sold price was $255,000, up from $236,000 in the 1st quarter and down slightly from $261,000 year-over-year. The median days-on-market was 21 with a range of 1 - 230 days. The median sold price as a percentage of the median original list price was 96% in the 2nd quarter.
There were 17 condominium unit sales in Manassas Park City with a price range of $120,000 - $230,000 and a median sold price of $195,000, up from $185,000 year-over-year. The sales price to list price ratio was 93% based on original list price.
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Prince William County Real Estate:
The Prince William County market saw single family residential sales of 1,686 units in the 2nd quarter. The average sold price was $375,587 with a sold price range of $118,000 - $1,398,000. This is an increase from an average sold price of $339,718 in the 1st quarter 2014 and an increase from $354,606 year-over-year. The average days-on-market was 32 days with a range of 0 - 453 days. The average sales price as a percentage of the average original list price was 98%, up from 97% in the 1st quarter.
There were 202 Condominium unit sales in the Prince William County market in the 2nd quarter 2014. The average sold price was $227,000, up from $218,380 in the 2nd quarter 2013. The sold price range was $83,000 - $435,130 with an average days-on-market of 41 days. The sales-to-list-price ratio was 96% in the 2nd quarter.
Check out our Prince William County Monthly Market Updates.
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