Is It Finally a Buyer’s Market in Northern Virginia?

For the first time in a long time, there’s a noticeable shift in the housing landscape across Northern Virginia: buyers are starting to gain ground. A new Bright MLS survey shows buyers are facing fewer hurdles thanks to rising inventory, a cooling pace in price growth, and modestly lower interest rates.
Thinking About Moving to Northern Virginia? Here's Everything You Need to Know to Start Fresh

Key Takeaways from the Bright MLS Market Survey

1. Inventory is Rising

There’s now more choice for buyers in the region. In fact, inventory in the Bright MLS footprint is up more than 25% year-over-year, with many listings sitting longer than they did during the red-hot market of 2021–2022. This is especially true in suburban counties like Loudoun and Prince William.

2. Homes Are Sitting Longer

The median days on market has increased to 11 days, compared to just 7 this time last year. While still relatively fast, this increase gives buyers more breathing room to tour homes and make informed decisions without the pressure of same-day offers.

3. Price Growth is Slowing

Although prices are still increasing, the rate of growth has slowed. Median sale prices are hovering around $553,000, only a 3.8% increase compared to this time last year — down from the double-digit jumps we saw during the peak pandemic years.

4. Interest Rates Are Stabilizing

While not dramatically lower, interest rates have softened just enough to bring more buyers back into the market. The rate environment is more predictable than it was a year ago, making budgeting easier for potential homeowners.

What This Means for Buyers in Northern Virginia

If you’ve been waiting on the sidelines, now might be the time to jump in. Northern Virginia has long been known for its competitive market, but today’s conditions offer a rare window for well-prepared buyers to make a move without being rushed or overbidding.

Tips for Navigating This Market

Get pre-approved: Sellers still want serious offers — come prepared.
Work with a local agent: The market varies by zip code. You need someone who knows the terrain.
Don’t lowball too hard: This isn’t a full-blown buyer’s market yet. Well-priced homes are still moving quickly.

Final Thoughts

We might not be in a full-on buyer's market just yet, but the tide is turning. With rising inventory, slower price growth, and less frenzied competition, Northern Virginia buyers are finally getting some leverage back.

Want to take advantage of the market shift? Let’s talk. My team has helped thousands of buyers find the right home — and we’re ready to help you too.

Thinking about buying or selling in Northern Virginia?

Check out the latest homes for sale here: Click to Search Northern Virginia Homes

Ready to make a move or just have questions? DM me or call/text (571) 624-1001 anytime.

Chris Colgan | The Colgan Team at eXp Realty
✅ Over 1,000 Homes Sold in Northern Virginia
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