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Real Estate Market, Local Insights, Housing Trends
Stay informed with the latest trends in the Greater D.C. real estate market! Here's your weekly snapshot highlighting key market data from around Northern Virginia, Maryland, and Washington, D.C.
Highlights:
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Fairfax City, VA saw a significant increase in median list price at $898,900, up 50.3% from last year.
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Manassas Park City, VA had a massive surge in new listings, jumping 700% compared to a year ago.
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Falls Church City, VA experienced a major rise in pending contracts, up 175% year-over-year.
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Alexandria City, VA continues to attract buyers, with new pending contracts up 30.9% week-over-week.
Virginia Spotlight:
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Arlington County: Median listing price at $779,998, down 14.9% from last year, indicating potential buying opportunities.
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Loudoun County remains stable with slight fluctuations, median price at $774,975, down 8.7% week-over-week.
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Prince William County: Stable pricing with median at $599,900, and a healthy increase in pending contracts at 26.8% week-over-week.
Maryland Overview:
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Montgomery County: Median price at $639,950, showing minor year-over-year growth at 4.9%.
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Frederick County: Strong activity, median price steady at $499,900.
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Calvert County saw median prices dip slightly to $519,700.
Washington D.C. Trends:
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The District recorded a median price of $635,000, slightly down by 4.2% year-over-year but steady overall market activity.
Market Insights:
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Overall, the Greater D.C. region maintains resilience, median list price at $600,000, unchanged from last year, highlighting market stability despite broader economic fluctuations.
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Notably, 11.7% of listings in Alexandria City had price drops, indicating sellers adjusting strategies.
Actionable Takeaway:
Buyers have a unique window in areas like Arlington and Alexandria, where prices have dropped year-over-year, presenting potential deals. Sellers in robust markets like Fairfax City should capitalize on rising prices.
Stay connected with weekly market updates to make informed real estate decisions.
Looking to buy or sell in the D.C. area? Contact our expert team today for personalized advice!
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— Chris Colgan, Realtor & Founder
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