There were a total of 5,196 single family residential sales in the Northern Virginia real estate market in the 1st quarter 2016. This is down from 6,131 units sold in the 4th quarter 2015 but up slightly from 5,161 units sold year-over-year.
The average sold price for single family residential properties in the 1st quarter was $527,543, down from $543,427 in the 4th quarter 2015 but up from an average sold price of $524,800 in the 1st quarter 2015.
Sold prices ranged from a low of $59,900 to a high of $7,150,000 in the 1st quarter. Days-on-market ranged 0 - 683 days with an average DOM of 55 days. The average sold price as a percentage of the average original list price was 96%, up from 95% in the previous quarter and unchanged year-over-year.
There were 1,506 condominium unit sales in the 1st quarter 2016, down from 1,678 units in the 4th quarter 2015 but up from 1,378 units sold in the in the 1st quarter 2015. The sold prices ranged $30,000 - $2,785,000 with an average sold price of $303,916. This is down slightly from an average sold price of $305,174 in the previous quarter and down from $312,804 year-over-year. The average days on market was 56 days and the average sold price as a percentage of the average original list price was 96%, down 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 222 single family residential sales in the City of Alexandria for the 1st quarter 2016. The sold prices ranged $282,400 - $3,700,000 with a median sold price of $650,000. This is up from a median sold price of $621,325 in the previous quarter and up from $645,000 in the 1st quarter 2015. The days-on-market ranged from 0 - 240 days with a median days-on market of 20 days. The median sold price as a percentage of the median original list price was 98% in the 1st quarter.
The median sold price for condominium units in the City of Alexandria market was $253,500 with a range of $100,000 - $2,785,000. This is down from a median sold price of $302,450 in the previous quarter and down from a median sold price of $285,000 year-over-year. The median sold price as a percentage of the original list price was 96% with a median days-on-market of 37 days.
Check our Alexandria City Monthly Market Updates.
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Arlington County Real Estate:
There were a total of 246 single family residential sales in the 1st quarter in Arlington County. Sold prices ranged $320,000 - $2,005,000 with a median sold price of $746,000. This is down from a median sold price of $764,591 year-over-year. Days-on-market ranged from 0 - 362 days with a median days-on-market of 22 days. The median sold price as a percentage of the median original list price was 98% in the 1st quarter.
Arlington County shows 258 condominium unit sales with a sold price range of $30,000 - $2,550,000 and a median sold price of $394,500. This is up from a median sold price of $380,000 in the 4th quarter 2015 and up from $387,000 year-over-year. Days-on-market has ranged 0-328 days with a median DOM of 27 days. The median sold price as a percentage of the median original list price was 100%, up from 96% year-over-year.
Check our Arlington County Monthly Market Updates.
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Fairfax County Real Estate:
There were 2,110 single family residential sales in the Fairfax County market in the 1st quarter 2016, down from 2,500 units sold year-over-year. The average sold price was $591,915 in the 1st quarter, down from an average sold price of $603,867 in the 4th quarter 2015 but up from $585,516 for the 1st quarter 2015. The sold prices ranged $210,000 - $7,150,000 in the 1st quarter. The average days-on-market was 55 days in the 1st quarter with an average sold price as a percentage of the average original list price was 96%.
There were 630 residential condominium unit sales in Fairfax County in the 1st quarter, down from 684 units in the 4th quarter 2015 and up from 509 units sold year-over-year. The sold price range was $92,925 - $1,524,360 with an average sold price of $282,926. This is down slightly from an average sold price of $286,528 year-over-year. The average sold price as a percentage of the average original list price was 96% with an average day-on-market of 55 days.
Check out our Fairfax County Monthly Market Updates.
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Fairfax City Real Estate:
There were 49 single family residential sales in the Fairfax City market in the 1st quarter with a median sold price of $484,000, up from $450,000 year-over-year. The sold price range was $274,089 - $1,341,336 in the 1st quarter with a median days-on-market of 18 days. The median sold price as a percentage of the median original list price was 98%.
There were 20 residential condominium unit sales in the 4th quarter. The sold prices ranged $25,000 - $378,300 with a median sold price of $189,950. This is down from a median sold price of $199,000 in the 3rd quarter and down from $225,000 year-over-year. The median days-on-market was 31 days and the median sold price as a percentage of the median original list price was 97%.
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Falls Church City Real Estate:
Falls Church City had 20 sales of single family residential properties in the 1st quarter. . The median sold price was $877,500 with a sold price range of $599,900 - $1,760,000. This is up from a median sold price of $812,00 in the previous quarter and up from $725,500 year-over-year. The median sales-to-list price ratio based on the original list price was 98% with a median days-on-market of 25 days.
There were 6 condominium unit sales in Falls Church City with a median sold price of $446,250 and a range of $276,000 - $615,000 in the 1st quarter. This is an increase from a median sold price of $437,450 year-over-year. The median days-on-market was 25 days and the median sales price as a percentage of the median original list price was 99%, up from 96% in the previous quarter.
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Loudoun County Real Estate:
There were a total of 1,039 single family residential sales in Loudoun County in the 1st quarter 2016, down from 1,213 units sold in the 4th quarter 2015 but up from 998 units for 1st quarter in 2015. The average sold price was $506,104 with a sold price range of $82,000 - $3,180,000. This is down from an average sold price of $520,420 in the 4th quarter 2015 but up from $487,865 year-over-year. The days-on-market ranged from 0 - 687 days with an average DOM of 55 days. The average sold price to average original list-price ratio was 96%.
There were 183 condominium unit sales in the 1st quarter, up from 161 units sold year-over-year. The average sold price was $266,200, a light decline from an average sold price of $269,216 in the 4th quarter 2015 and down from $273,482 year-over-year. The sold price range was $83,475 - $640,000 with an average days-on-market of 55 days. The average sold price as a percentage of the average original list price was 97% in the 1st quarter.
Check out our Loudoun County Monthly Market Updates.
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Manassas City Real Estate:
There were 95 single family residential sales in the City of Manassas in the 1st quarter with a sold price range of $138,000 - $553,075. The median sold price was $310,000, up from $292,450 in the 4th quarter 2015 and up from a median sold price of $286,500 in the 1st quarter 2015. The median days-on-market was 47 days with a range of 0 - 182 days. The median sold price as a percentage of the median original list price was 97% in the 1st quarter.
There were 21 condominium unit sales in the 1st quarter with a sold price range of $105,000 - $286,990 and a median sold price of $179,900. This is down from a median sold price of $207,000 for the same period in 2015.
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Manassas Park City:
There were 47 single family residential sales in the Manassas Park City market in the 1st quarter 2016. The sold price range was $90,000 - $425,000. The median sold price was $315,000, up from $275,000 in the previous quarter and up from $265,000 year-over-year. The median days-on-market was 20 days with a range of 0 - 204 days. The median sold price as a percentage of the median original list price was 97% in the 1st quarter.
There were 8 condominium unit sales in Manassas Park City with a price range of $115,000 - $220,000 and a median sold price of $189,950, virtually unchanged from a median sold price of $190,000 for the same period in 2015. The sales price to list price ratio was 96% based on original list price and the median days-on-market was 29 days.
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Prince William County Real Estate:
Prince William County showed a total of 1,151 single family residential sales in the 1st quarter 2016, down from 1,301 units sold in the previous quarter and down only slightly from 1,166 units sold year-over-year. The average sales price was $371,323 with a sold price range of $60,000 - $2,200,000. This is up slightly from an average sold price of $368,513 in the 4th quarter and up from $360,410 year-over-year. The average days-on-market was 57 days with a range of 0 - 658 days. The average sold price as a percentage of the average original list price was 96%.
There were 168 condominium unit sales in the Prince William County market for the 1st quarter 2016, up from 163 units sold in the previous quarter and up from 139 units sold in the 1st quarter 2015. . The average sold price was $237,450, up from $232,887 in the previous quarter and down slightly from $239,475 year-over-year. The sold price range was $80,000 - $830,000 with an average days on market of 45 days in the 1st quarter. The sales-to-list-price ratio was 95%.
Check out our Prince William County Monthly Market Updates.
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