There were 6,657 single family residential properties sold in the Northern Virginia real estate market in the 2nd quarter 2023. This is up from 4,071 units sold in the previous quarter and down from 9,189 units sold during the same period a year earlier.
The median sold price for single family residential properties in the 2nd quarter was $753,074. This is up from a median sold price of $717,139 in the previous quarter but down from $768,445 for the 2nd quarter 2022.
Sold prices ranged from a low of $165,000 to a high of $13,250,000 in the 2nd quarter. Days-on-market ranged 0 - 1,013 days with a median DOM of 13 days. The median sold price as a percentage of the median original list price was 102%.
There were 2,098 condominium unit sales in the 2nd quarter 2023, up from 1,451 units sold in the previous quarter and also down slightly from 2,739 units sold in the 2nd quarter 2022. The sold prices ranged $60,000 - $3,500,00 with a median sold price of $390,700. This is up from a median sold price of $375,000 in the previous quarter and also up from $373,000 in the 2nd quarter 2022. The median days on market was 6 days in the 2nd quarter with a median sold price as a percentage of the original list price of 100%.
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 281 single family residential sales in the City of Alexandria in the 2nd quarter 2023. The sold prices ranged $415,000 - $4,885,000 with a median sold price of $931,575. This is up from a median sold price of $832,500 in the previous quarter and up only slightly from $930,000 in the 2nd quarter 2022. The days-on-market ranged from 0 - 540 days with a median days-on market of 6 days. The median sold price as a percentage of the original list price was 100% in the 2nd quarter.
The median sold price for condominium units in the City of Alexandria market was $405,000 in the 2nd quarter with 371 units sold. The sold price range was $120,000 - $3,500,000. This is up from a median sold price of $360,000 for the same period in 2022 and also up from $370,500 in the previous quarter. The median sold price as a percentage of the original list price was 100% with a median days-on-market of 6 days.
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Arlington County Real Estate:
There were 333 single family residential sales in the 2nd quarter in Arlington County. Sold prices ranged $300,000 - $3,750,000 with a median sold price of $1,130,767, down slightly from a median sold price of $1,147,500 in the 2nd quarter 2022 and up slightly down from $1,125,000 in the 1st quarter 2023. Days-on-market ranged from 0 - 581 days with a median days-on-market of 17 days. The median sold price as a percentage of the original list price was 100%.
There were 409 condominium unit sales in Arlington County with a sold price range of $60,000 - $2,479,000 and a median sold price of $455,000. This is up from a median sold price of $440,000 with 243 units sold in the previous quarter but down from $469,900 in the 2nd quarter in 2022 with 473 units sold. Days-on-market ranged 0-889 days in the 2nd quarter with a median DOM of 28 days. The median sold price as a percentage of the original list price was 100%.
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Fairfax County Real Estate:
There were 2,884 single family residential sales in the Fairfax County market in the 2nd quarter 2023. The median sold price was $781,343, up from a median sold price of $720,300 in the previous quarter and up from $775,000 in the 2nd quarter 2022 with 3,901 units sold. The sold prices ranged from a low of $200,000 to a high of $13,250,000 in the 2nd quarter with a median days-on-market of 5 days. The median sold price as a percentage of the original list price was 102%.
There were 732 residential condominium units sold in Fairfax County in the 2nd quarter 2023, up from 559 units in the previous quarter and down from 1,049 units sold during the 2nd quarter 2022. The sold price range was $125,000 - $1,838,000 with a median sold price of $351,000. This is up from a median sold price of $344,900 for the same period a year earlier and up from $330,000 in the previous quarter. The median sold price as a percentage of the original list price was 100% with a median days-on-market of 5 days.
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Fairfax City Real Estate:
There were 84 single family residential sales in the Fairfax City market in the the 2nd quarter with a median sold price of $765,000. This is up from a median sold price of $695,000 with 29 sales in the previous quarter and also up from $745,000 in the 2nd quarter 2022 with 103 sales. The sold price range was $375,000 - $1,572,880 in the 2nd quarter with a median days-on-market of 5 days. The median sold price as a percentage of the original list price was 101%.
There were 27 residential condominium unit sales in the 2nd quarter. The sold prices ranged $200,000 - $835,000 with a median sold price of $280,000 . The median days-on-market was 5 days and the median sold price as a percentage of the median original list price was 100%.
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Falls Church City Real Estate:
There were 37 sales of single family residential properties in City of Falls Church in the 2nd quarter with a median sold price $1,152,236 and a sold price range of $710,000 - $2,000,000. This is down from $1,232,000 in the previous quarter and also down from a median sold price of $1,210,000 for the same period in 2022. The median sales-to-list price ratio based on the original list price was 106% in the 2nd quarter with a median days-on-market of 5 days.
There were 13 condominium unit sales in Falls Church City with a median sold price of $605,010 and a range of $212,500 - $865,000. This is up from a median sold price of $480,000 in the previous quarter and up from $468,500 in the 2nd quarter in 2022. The median days-on-market was 6 days and the median sales price as a percentage of the original list price was 101%.
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Loudoun County Real Estate:
There were a total of 1,209 single family residential properties sold in the Loudoun County market for the 2nd quarter 2023 with a median sold price of $786,000 and a sold price range of $270,000 - $4,600,000. This is up from a median sold price of $765,000 with 677 units sold in the previous quarter and up from $781,500 with 1,753 units sold in the 2nd quarter 2022. The days-on-market ranged 0 - 873 days with a median DOM of 5 days. The median sold price to original list-price ratio was 101%.
There were 300 condominium unit sales in the 2nd quarter, down from 349 units sold during the same period in 2022. The median sold price was $475,000, up from $431,000 for the same period 2022 and also up from a median sold price of $449,065 in the 1st quarter 2023. The sold price range was $145,000 - $889,990 with a median days-on-market of 6 days. The median sold price as a percentage of the original list price was 100% in the 2nd quarter.
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Manassas City Real Estate:
There were 119 single family residential sales in the City of Manassas in the 2nd quarter with a sold price range of $205,000 - $876,000. The median sold price was $510,000, up from a median sold price $492,500 in the previous quarter but down from $520,000 for the same period in 2022. The median days-on-market was 5 days in the 2nd quarter with a range of 0 - 246 days. The median sold price as a percentage of the original list price was 102%.
There were 26 condominium unit sales in the 2nd quarter with a sold price range of $206,000 - $404,900 and a median sold price of $275,000. This is down from a median sold price of $295,000 in the previous quarter and unchanged from a median sold price of $275,000 for the same period a year earlier.
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Manassas Park City:
There were 35 single family residential sales in Manassas Park City in the 2nd quarter. The sold price range was $269,500 - $715,000. The median sold price was $477,000, up from a median sold price of $439,950 in the previous quarter and up from $404,250 for the same period 2022. The median days-on-market was 4 days in the 2nd quarter and the median sold price as a percentage of the original list price was 100%.
There were 12 condominium unit sales in Manassas Park City with a sold price range of $230,000 - $464,710 and a median sold price of $325,000. This is up from a median sold price of $305,000 in the 2nd quarter 2022 and unchanged from $325,000 in the 1st quarter 2023. The sales price to list price ratio was 100% in the 2nd quarter with a median days-on-market was 8 days.
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Prince William County Real Estate:
There were a total of 1,393 single family residential sales in the Prince William County market in the 2nd quarter, down from 1,980 units sold during the same period in 2022. The median sales price was $578,000 with a sold price range of $170,000 - $2,375,000. This is up from a median sold price of $535,000 in the previous quarter and up only slightly from $575,000 in the 2nd quarter 2022. The median days-on-market was 5 days in the 2nd quarter. The median sold price as a percentage of the average original list price was 101%.
There were 191 condominium unit sales in the Prince William County market in the 2nd quarter 2023, up from 137 units sold in the 1st quarter. Sold prices have ranged from a low of $145,555 to a high of $535,000 with an median sold price of $400,000. This is up from a median sold price of $370,000 in the previous quarter and up from $365,000 for the same period a year earlier. The median days on market was 5 days in the 2nd quarter with a sales-to-list-price ratio of 100%.