Home Sale Statistics in Northern Virginia – December/Q4 2022

The year ended seasonally strong and remains a seller’s market, though not nearly as extreme as a year ago. Inventory remains a challenge and despite higher interest rates compared to last year, demand remains very healthy. 

See all of the market statistics below for Northern Virginia for December 2022, as well as some year-over-year numbers.  Then use the links at the bottom of the page to see how your specific community ended the year!

Northern Virginia December/Q4 2022 home sales:

1,433 homes went under contract in the region. This is down 33% from the same time period in 2021.

32% of the homes that went to settlement in December 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $654,685 (up 0.6% from the same time period in 2021).

1,302 homes came on the market. That’s down 34% from December 2021.

• Homes that sold (closed) averaged 31 days on market, 7 days slower than in December of 2021.

• There is currently a 0.8 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 2,265 homes for sale (townhouse, condo and single-family).

Additional Year-End Stats – 2022 vs 2021:

Average sold price increased by 7.9% ($706,568 vs $654,753)

Total units sold decreased by 25%

Average sales price to original list price ratio decreased slightly – 100.8% vs 101.1%

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory decreased again from the prior month but was up 48% year-over-year.  The number of homes going under contract and coming on the market also declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was down from November but up just slightly compared to the end of December last year.

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: December 2022 Home Sales

Oakton: December 2022 Home Sales 

McLean: December 2022 Home Sales 

Great Falls: December 2022 Home Sales 

Reston: December 2022 Home Sales 

Falls Church: December 2022 Home Sales 

Arlington: December 2022 Home Sales

Alexandria: December 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

If you are thinking of buying or selling, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

Home Sale Statistics in Northern Virginia – November 2022

Listen to Terry in the quick video below talk about the Northern Virginia real estate market as we come to the end of 2022. Are we still in a Seller’s Market? How do we compare to other regions in the country? What are interest rates doing?

If you have specific questions about the market you would like answered, please don’t hesitate to reach out!

After watching, take a look at all of the regional stats below along with links to some of our hyper local areas.

Northern Virginia November 2022 home sales:

1,782 homes went under contract in the region. This is down 44% from the same time period in 2021.

38% of the homes that went to settlement in November 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $676,877 (up 5% from the same time period in 2021).

1,979 homes came on the market. That’s down 23% from November 2021.

• Homes that sold (closed) averaged 27 days on market, 6 days slower than in November of 2021.

• There is currently a 1.0 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,141 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory decreased from the prior month but was up 35% year-over-year.  The number of homes going under contract and coming on the market also declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was down from October but up compared to November last year.

If you are thinking of buying or selling, please reach out to Terry & The Belt Team and let our experience work for you.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: November 2022 Home Sales

Oakton: November 2022 Home Sales 

McLean: November 2022 Home Sales 

Great Falls: November 2022 Home Sales 

Reston: November 2022 Home Sales 

Falls Church: November 2022 Home Sales 

Arlington: November 2022 Home Sales

Alexandria: November 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

Home Sale Statistics in Northern Virginia – October 2022

We are still experiencing a seller’s market in the Northern Virginia Region mostly due to the supply & demand equation, however, sales are down significantly (about 40%) from this time last year. Why? Partly due to inventory but a lot due to affordability issues because of the significant increase in interest rates.

In reality, we see this as a more “normal” seller’s market. What does that mean? Terry answers this and more in his latest market update video.

Northern Virginia October 2022 home sales:

2,119 homes went under contract in the region. This is down 46% from the same time period in 2021.

41% of the homes that went to settlement in October 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $699,532 (up 3.7% from the same time period in 2021).

2,720 homes came on the market. That’s down 33% from October 2021.

• Homes that sold (closed) averaged 25 days on market, 6 days slower than in October of 2021.

• There is currently a 1.2 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,778 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory decreased from the prior month but was up 8.1% year-over-year.  The number of homes going under contract and coming on the market also declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was up from September and compared to October last year.

If you are thinking of buying or selling, please reach out to Terry & The Belt Team and let our experience work for you.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: October 2022 Home Sales

Oakton: October 2022 Home Sales 

McLean: October 2022 Home Sales 

Great Falls: October 2022 Home Sales 

Reston: October 2022 Home Sales 

Falls Church: October 2022 Home Sales 

Arlington: October 2022 Home Sales

Alexandria: October 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

Home Sale Statistics in Northern Virginia – September/Q3 2022

Most areas in the Northern Virginia Region saw an increase in the number of new listings coming on the market during September, but the number of homes going under contract was down (and both of these numbers are still down year-over-year…in some cases significantly). This can be explained by the slowing of the market we’ve been seeing. That said, our region and hyper local markets remain relatively healthy and in a Seller’s Market.

This month we also give you a snapshot at some of the 3rd quarter-end statistics for the region overall and some local markets. In short, the numbers of homes sold versus 3rd quarter of 2021 were down across the board.

Northern Virginia September/Q3 2022 home sales:

2,427 homes went under contract in the region. This is down 35% from the same time period in 2021.

41% of the homes that went to settlement in September 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $655,155 (up 3% from the same time period in 2021).

3,531 homes came on the market. That’s down 26% from September 2021.

• Homes that sold (closed) averaged 24 days on market, 6 days slower than in September of 2021.

• There is currently a 1.2 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,984 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory increased slightly from the prior month but was down 3.9% year-over-year.  The number of homes going under contract decreased but the number of new homes coming on the market increased…however both of these numbers continue to be down significantly from this time last year.  Average sold price was down from August but was up slightly compared to September last year.

Additional Quarter-End Stats – 2022 vs 2021:

Average sold price increased by 5.6% ($685,417 vs $648,935)

Total units sold decreased by 30%

Average sales price to original list price ratio decreased slightly – 98.8% vs 100.5%

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: September 2022 Home Sales

Oakton: September 2022 Home Sales 

McLean: September 2022 Home Sales 

Great Falls: September 2022 Home Sales 

Reston: September 2022 Home Sales 

Falls Church: September 2022 Home Sales 

Arlington: September 2022 Home Sales

Alexandria: September 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

If you are thinking of buying or selling, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

Home Sale Statistics in Northern Virginia – August 2022

While the Northern Virginia Region remains in a Seller’s Market, we did see some slowing at the end of the summer.  Possible factors contributing to this include rising mortgage rates, inflation and economic uncertainty.  Low inventory remains an issue across our area and continues to be down year-over-year.  Also down more significantly at the end of August (compared to the same time last year) were the number of new homes coming on the market as well as the number going under contract.  However, sales prices are still up.   

Northern Virginia August 2022 home sales:

2,840 homes went under contract in the region. This is down 30% from the same time period in 2021.

47% of the homes that went to settlement in August 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $676,011 (up 4.7% from the same time period in 2021).

3,300 homes came on the market. That’s down 29% from August 2021.

• Homes that sold (closed) averaged 18 days on market, 3 days slower than in August of 2021.

• There is currently a 1.1 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,750 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory decreased from the prior month and was down 4.6% year-over-year.  The number of homes going under contract and new homes coming on the market decreased as well…and both of these numbers continue to be down significantly from this time last year.  Average sold price was down from July but was up slightly compared to August last year.

If you are thinking of buying or selling, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: August 2022 Home Sales

Oakton: August 2022 Home Sales 

McLean: August 2022 Home Sales 

Great Falls: August 2022 Home Sales 

Reston: August 2022 Home Sales 

Falls Church: August 2022 Home Sales 

Arlington: August 2022 Home Sales

Alexandria: August 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

Home Sale Statistics in Northern Virginia – July 2022

We didn’t see many changes in the Northern Virginia housing market from June to July but overall our market is changing.  

Watch Terry Belt briefly describe what he is seeing in the following video.  Then be sure to take a look at all the regional stats for July 2022 below along with links to some of our hyper local areas.

Northern Virginia July 2022 home sales:

2,902 homes went under contract in the region. This is down 29% from the same time period in 2021.

59% of the homes that went to settlement in July 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $715,510 (up 8% from the same time period in 2021).

4,114 homes came on the market. That’s down 18% from July 2021.

• Homes that sold (closed) averaged 14 days on market, 2 days slower than in July of 2021.

• There is currently a 1.2 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 4,154 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory increased again from last month and was up 12% year-over-year.  However the number of homes going under contract and new homes coming on the market decreased…and both of these numbers continue to be down from this time last year.  Average sold price was down a bit from June but was up compared to July last year.

If you are thinking of buying or selling, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: July 2022 Home Sales

Oakton: July 2022 Home Sales 

McLean: July 2022 Home Sales 

Great Falls: July 2022 Home Sales 

Reston: July 2022 Home Sales 

Falls Church: July 2022 Home Sales 

Arlington: July 2022 Home Sales

Alexandria: July 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

Home Sale Statistics in Northern Virginia – June and Q2 2022

Although the Northern Virginia housing market is not seeing the crazy peak conditions we have seen in the prior months, the market remains relatively hot. But how can that be when sales were down 32% at the end of June?

Below CEO Terry Belt discusses this, whether it’s still a good time to buy/sell, what he thinks the long term player is in the housing market and more.

Here’s a look at all the June and some Q2 2022 housing market stats for Northern Virginia and links to some of our hyper local markets.

Northern Virginia June 2022 home sales:

3,307 homes went under contract in the region. This is down 32% from the same time period in 2021.

72% of the homes that went to settlement in June 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $734,641 (up 8% from the same time period in 2021).

5,130 homes came on the market. That’s down 17% from June 2021.

• Homes that sold (closed) averaged 10 days on market, 1 day faster than in June of 2021.

• There is currently a 1.1 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,829 homes for sale (townhouse, condo and single-family).

Additional Quarter-End Stats – 2021 vs 2022:

Average sold price increased by 9.4% ($675,532 vs $738,975)

Total units sold decreased by 19%

Average sales price to original list price ratio increased just slightly – 103.0% vs 103.2%

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory increased again from last month and was up 7% year-over-year.  The number of homes going under contract was down from last month but the number of new homes coming on the market increased slightly…both of these numbers continue to be down significantly from this time last year.  Average sold price was down a bit from May but was up compared to this month & quarter in 2021. 

If you are thinking of buying or selling this year, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: June 2022 Home Sales

Oakton: June 2022 Home Sales 

McLean: June 2022 Home Sales 

Great Falls: May 2022 Home Sales 

Reston: May 2022 Home Sales 

Falls Church: June 2022 Home Sales 

Arlington: June 2022 Home Sales

Alexandria: June 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

Home Sale Statistics in Northern Virginia – May 2022

The May market stats are in and the Northern Virginia area remains in a Seller’s Market.  Inventory increased from the prior month but is still down 5% from the same time last year.  Also down year-over-year were the number of homes going under contract and new homes coming on the market.

As with last month, we are seeing a shift in the market.  The video below from Terry Belt gives his perspective on what’s happening.  

Here’s a look at all the May 2022 housing market stats for Northern Virginia and links to some of our hyper local markets.

Northern Virginia May 2022 home sales:

4,142 homes went under contract in the region. This is down 20% from the same time period in 2021.

81% of the homes that went to settlement in May 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $748,451 (up 10% from the same time period in 2021).

5,054 homes came on the market. That’s down 14% from May 2021.

• Homes that sold (closed) averaged 9 days on market, 1 day faster than in May of 2021.

• There is currently a 0.8 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 2,862 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory increased slightly from last month but was down 5% year-over-year.  The number of homes going under contract were in line with last month but the number of new homes coming on the market was down…both of these numbers continue to be down significantly from this time last year.  Average sold price was up from April, as well as year-over-year. 

If you are thinking of buying or selling this year, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: May 2022 Home Sales

Oakton: May 2022 Home Sales 

McLean: May 2022 Home Sales 

Great Falls: May 2022 Home Sales 

Reston: May 2022 Home Sales 

Falls Church: May 2022 Home Sales 

Arlington: May 2022 Home Sales

Alexandria: May 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

817 Bernard St, Alexandria VA 22314 – Just Listed by The Belt Team!

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Call The Belt Team at (703) 242-3975 if you are thinking of buying or selling. The Belt Team has been in business for over 50 years and has sold over $1 Billion in transaction volume! 

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Home Sale Statistics in Northern Virginia – April 2022

The April real estate market stats are in for Northern Virginia and sales were down but the market was up! Sales were down because inventory is still low but pricing continues to be very strong due to the large number of buyers still in the market.  

We are seeing a change in the market however…for the first time in a long time.  Continue watching Terry below to find out what that change is and what you should do if you are a buyer or seller. 

Here’s a look at all the April 2022 housing market stats for Northern Virginia and links to some of our hyper local markets.

Northern Virginia April 2022 home sales:

4,135 homes went under contract in the region. This is down 16% from the same time period in 2021.

84% of the homes that went to settlement in April 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $728,442 (up 10% from the same time period in 2021).

5,247 homes came on the market. That’s down 16% from April 2021.

• Homes that sold (closed) averaged 9 days on market, 3 days faster than in April of 2021.

• There is currently a 0.7 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 2,515 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained an aggressive Seller’s Market. Inventory increased again from the prior month but was down 14% year-over-year.  Average sold price was in line with March and up from 2021. 

If you are thinking of buying or selling this year, please reach out to The Belt Team and let us help you navigate this unprecedented market.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: April 2022 Home Sales

Oakton: April 2022 Home Sales 

McLean: April 2022 Home Sales 

Great Falls: April 2022 Home Sales 

Reston: April 2022 Home Sales 

Falls Church: April 2022 Home Sales 

Arlington: April 2022 Home Sales

Alexandria: April 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

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