There were a total of 6,565 single family residential sales in the Northern Virginia real estate market in the 4th quarter 2016. This is down from 8,526 units sold in the 3rd quarter 2016 but up from 6,131 units sold during the same period in 2015.
The average sold price for single family residential properties in the 4th quarter was $551,620, up from an average sold price of $543,231 in the previous quarter and also up from $543,427 in the 4th quarter 2015.
Sold prices ranged from a low of $50,000 to a high of $5,000,000 in the 4th quarter. Days-on-market ranged 0 - 1,055 days with an average DOM of 41 days. The average sold price as a percentage of the average original list price was 96%, up from 95% year-over-year.
There were 1,936 condominium unit sales in the 4th quarter 2016, down from 2,329 units sold in the 3rd quarter but up from 1,678 units sold in the same period 2015. The sold prices ranged $60,000 - $3,700,000 with an average sold price of $315,449. This is up from an average sold price of $305,174 year-over-year and also up from $308,871 in the 3rd quarter. The average days on market was 43 days and the average sold price as a percentage of the average original list price was 97%.
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 286 single family residential sales in the City of Alexandria in the 4th quarter 2016. The sold prices ranged $324,461 - $1,969,000 with a median sold price of $656,233. This is up slightly from a median sold price of $652,500 during the in the previous quarter and up from a median sold price of $621,325 during the same period in 2015. The days-on-market ranged from 0 - 258 days with a median days-on market of 17 days. The median sold price as a percentage of the median original list price was 98% in the 4th quarter.
The median sold price for condominium units in the City of Alexandria market was $280,000 in the 4th quarter with a sold price range of $103,000 - $3,100,000. This is up from a median sold price of $272,250 in the previous quarter. The median sold price as a percentage of the original list price was 97% with a median days-on-market of 17 days.
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Arlington County Real Estate:
There were a total of 336 single family residential sales in the 4th quarter in Arlington County. Sold prices ranged $275,000 - $2,375,000 with a median sold price of $766,000, down only slightly from a median sold price of $775,000 year-over-year and down from a median sold price of $826,500 in the 3rd quarter. Days-on-market ranged from 0 - 292 days with a median days-on-market of 15 days. The median sold price as a percentage of the median original list price was 99%.
There were 376 condominium unit sales in Arlington County with a sold price range of $60,000 - $3,700,000 and a median sold price of $394,000. This is virtually unchanged from a median sold price of $395,000 with 435 units sold in the previous quarter. Days-on-market ranged 0-468 days in the 4th quarter with a median DOM of 26 days. The median sold price as a percentage of the median original list price was 96%.
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Fairfax County Real Estate:
There were a total of 2,640 single family residential sales in the Fairfax County market in the 4th quarter 2016, up from 2,500 units sold in the same period 2015. The average sold price was $611,997, up slightly from an average sold price of $608,776 in the 3rd quarter and up from $603,867 year-over-year. The sold prices ranged from a low of $185,000 to a high of $5,000,000 in the 4th quarter with an average days-on-market was 43 days. The average sold price as a percentage of the average original list price was 95%.
There were 719 residential condominium unit sales in Fairfax County in the 4th quarter, down from 891 units in the 3rd quarter and up from 684 units sold during the same period a year earlier. The sold price range was $83,000 - $1,395,000 with an average sold price of $279,080. This is virtually unchanged from an average sold price of $279,762 year-over-year and up slightly from $277,687 in the 3rd quarter. The average sold price as a percentage of the average original list price was 96% with an average day-on-market of 43 days.
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Fairfax City Real Estate:
There were 61 single family residential sales in the Fairfax City market for the 4th quarter with a median sold price of $525,000, up from $505,000 in the 3rd quarter and unchanged from $525,000 in the 4th quarter 2015. The sold price range was $254,900 - $1,125,000 in the 4th quarter with a median days-on-market of 37 days. The median sold price as a percentage of the median original list price was 96%.
There were 10 residential condominium unit sales in the 4th quarter. The sold prices ranged from a low of $135,000 to a high of $240,000 with a median sold price of $185,500. This is down slightly from a median sold price of $189,950 for the same period in 2015. The median days-on-market was 37 days and the median sold price as a percentage of the median original list price was 96%.
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Falls Church City Real Estate:
Falls Church City shows 28 sales of single family residential properties in the 4th quarter. The median sold price was $744,750 with a sold price range of $423,755 - $1,560,000, down from a median sold price of $812,000 year-over-year. The median sales-to-list price ratio based on the original list price was 93% in the 4th quarter with a median days-on-market of 26 days.
There were 11 condominium unit sales in Falls Church City with a median sold price of $380,000 and a range of $215,000 - $747,000 in the 4th quarter. This is a decline from a median sold price of $525,000 year-over-year. The median days-on-market was 9 days for the period and the median sales price as a percentage of the median original list price was 95%.
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Loudoun County Real Estate:
There were 1,382 single family residential sales in the Loudoun County market for the 4th quarter, up from 1,213 units sold in the same period 2015. The average sold price was $534,506 in the 4th quarter with a sold price range of $105,000 - $2,050,000. This is up slightly from an average sold price of $520,506 in the 3rd quarter and $520,420 year-over-year. The days-on-market ranged from 0 - 811 days with an average DOM of 42 days. The average sold price to average original list-price ratio was 97%.
There were 274 condominium unit sales in the 4th quarter, up from 207 units sold in the same period 2015. The average sold price was $272,533, a slight decline from an average sold price of $278,816 in the 3rd quarter but up slightly from $269,216 in the 4th quarter 2015. The sold price range was $85,000 - $615,674 with an average days-on-market of 42 days. The average sold price as a percentage of the average original list price was 97% in the 4th quarter.
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Manassas City Real Estate:
There were 116 single family residential sales in the City of Manassas in the 4th quarter with a sold price range of $132,000 - $550,000. The median sold price was $309,500, down from $319,500 in the 3rd quarter but up from a median sold price of $292,450 in the 4th quarter 2015. The median days-on-market was 21 days with a range of 0 - 178 days. The median sold price as a percentage of the median original list price was 96%.
There were 30 condominium unit sales in the 4th quarter with a sold price range of $100,000 - $340,000 and a median sold price of $211,000. This is up from a median sold price of $192,250 in the 3rd quarter and up from $185,000 year-over-year.
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Manassas Park City:
There were a total of 40 single family residential sales in the Manassas Park City market in the 4th quarter 2016. The sold price range was $179,000 - $489,900. The median sold price was $284,800, up from $275,000 for the same period a year earlier. The median days-on-market was 27 days with a range of 0 - 171 days. The median sold price as a percentage of the median original list price was 96% in the 4th quarter.
There were14 condominium unit sales in Manassas Park City with a price range of $133,300 - $236,000 and a median sold price of $202,500. This is up from a median sold price of $197,000 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 27 days.
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Prince William County Real Estate:
Prince William County showed a total of 1,418 single family residential sales in the 4th quarter 2016, up from 1,301 units sold in the 4th quarter 2015. The average sales price was $380,674 with a sold price range of $92,300 - $1,435,000. This is virtually unchanged from an average sold price of $380,225 in the 3rd quarter but up from $368,513 year-over-year. The average days-on-market was 39 days with a range of 0 - 437 days. The average sold price as a percentage of the average original list price was 97%.
There were 201 condominium unit sales in the Prince William County market for the 4th quarter, down from 250 units sold in the previous quarter and up from 163 units sold in the 4th quarter 2015. Sold prices ranged $93,000 - $875,000 with an average sold price of $253,322. This is up from an average sold price of $246,967 in the previous quarter and also up from $232,387 year-over-year. The average days on market was 30 days with a sales-to-list-price ratio was 99%.
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