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).

Pumpkin Patches and Fall Festivals in Northern Virginia

Now that Fall is here, it’s time to get out, celebrate and find that perfect pumpkin! Before you go, be sure to read below about some favorite Fall Festivals and pumpkin patches in the Northern Virginia area (and a little beyond). Let us know in the comments if you have any to add! Oh how we love fall in Virginia….

DePaul’s Urban Farm, 2599 Chain Bridge Road, Vienna, VA

Beautiful pumpkin patch, wide variety of mums, delicious apples, apple cider, Kettle Korn and more!

Hours: Daily from 10 a.m. to 5 p.m.

Reston Farms Garden Market Fall Fest 2022, 10800 Baron Cameron Avenue, Reston, VA

Open September 24 – October 30th. Tons of activities, fun and food! Visit their website to purchase tickets (tickets include access to the bounce houses, games, train ride, petting zoo and a free pumpkin for each paid child’s ticket). Extras (like balloon and face painting, animal feed, etc) can be purchased at a reduced cost).

Hours: Daily 9 a.m. to 6 p.m.

Meadows Farms Nurseries, various locations (visit the website for addresses)

Open October 1st – October 31st. Includes a pumpkin patch, moon bounce, giant “scarecrow”, haunted buses, straw mazes and more! They also have decorative gourds, face pumpkins, cornstalks, mini hay bales, straw, and various other Halloween décor.

Hours: 8 a.m. to 7 p.m. Monday through Saturday and 9 a.m. to 6 p.m. Sunday

Merrifield Garden Center, 8132 Lee Highway, Falls Church, VA or 12101 Lee Highway, Fairfax, VA

Pumpkins, wide variety of mums and other fall annuals, Fall and Halloween decor.

Hours: 8 a.m. to 7 p.m. Monday through Saturday and 8 a.m. to 6 p.m. Sunday

Krop’s Crops, 11110 Georgetown Pike, Great Falls, VA

Hayrides to the pumpkin patch, Winchester apples, fresh-pressed apple cider, fall squash and gourds, harvest and Halloween decorations, farm animals and a corn bin to play in.

Hours: Daily from 10 a.m. to 6 p.m. Walk-in hayrides to pumpkin patch available weekends in October from 11 a.m. to 4 p.m.

Cox Farms Fall Festival, 15621 Braddock Rd, Centreville, VA

Open September 24th – November 8th. World-famous hayride, corny Conundrum, slides and more. Visit their website for more details and purchase tickets.

Hours: 10 a.m. to 6 p.m. (5 p.m. in November), last entry one hour before closing. Festival open Thursday through Monday weekly. Closed Tuesday and Wednesday (except Tues, Nov 8th) but Market is open daily.

Burke Nursery & Garden Centre Fall Farm Market & Pumpkin Patch, 9401 Burke Road, Burke VA

Open October 1st – October 31st. Enjoy a pumpkin patch with Halloween-inspired backdrops, Halloween decorations, apples, gourds, hot chocolate, apple cider donuts and more! Pony rides offered Saturday and Sunday 10 a.m. to 5 p.m.

Hours: 9 a.m. to 7 p.m. Monday through Saturday. 9 a.m. to 6 p.m. Sunday

Pumpkin Village, 19246 James Monroe Hwy, Leesburg VA

Open September 17th – November 6th. Fall Fest is full of family activities…hill slides, Kiddie zip line, pony rides, hay maze, moon bounces, wagon rides, pedal carts, weekend entertainment and more. Visit their website to see additional activities offered on weekends and Columbus Day and to get ticket information.

Hours: 9:30 a.m. to 5 p.m. Monday, Wednesday & Thursday (closed Tuesdays). 9:30 a.m. to 6 p.m. Friday. 9:30 a.m. to 1:30 p.m. OR 2 p.m. to 6 p.m. Saturday and Sunday (and Columbus Day).

Wayside Farm Fun, 5273 Harry Byrd Highway (Route 7), Berryville, VA

Open September 24th – October 30th. “Whether you are here to find the perfect pumpkin for carving Jack-o-lanterns, to find your way through our 10-acre corn maze, or to take in the scenery of our grounds while the kids enjoy all of our activities, our fun farm has something for everyone!” General admission information on their website.

Hours: Thursday – Sunday & Columbus Day (Oct 10)

Great Country Farms Fall Pumpkin Harvest Festival, 34345 Snickersville Turnpike, Bluemont, VA

Open October 1st -October 31st. Many activities to choose from! Including…picking pumpkins, corn maze, pig races, cider pressing demonstrations, roasting marshmallows, barn animals, wagon rides and more! Visit their website for all activities (some offered on weekends only) and tickets information.

Hours: Daily 10am-5pm, weekends 9am-5pm (last entry to pick your own at 4pm)

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).

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).

Want to know what your home is worth? Click below to get our free instant home valuation!

Fairfax County FY 2023 Budget – FINAL APPROVAL

On Tuesday, May 10th, the Board of Supervisors gave its final approval for the FY 2023 budget (there were no changes since the approved budget markup on April 26th).

The final budget includes a three-cent reduction in the Real Estate Tax Rate, from $1.14 to $1.11 per $100 of assessed value. However, the average residential tax bill will increase by $465 (6.7%) due to the increase in residential real estate assessments (92% of Fairfax County residents saw their assessments go up!).

Note: the rate would have had to decrease to $1.0583 per $100 of assessed value to have kept real estate tax bills the same as the last year.

Click Here to see all the details on the FY 2023 budget.


If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Home Sale Statistics in Northern Virginia – March 2022

Continued record low inventory this March translated into just a 2 week supply of homes.  This resulted in a lower number of sales and further price increases compared to 2021 as buyers feel urgency with increasing interest rates.

Here’s a look at all the March 2022 housing market stats for Northern Virginia and some of our hyper local markets at the bottom of the page.

Northern Virginia March 2022 home sales:

3,869 homes went under contract in the region. This is down 18.4% from the same time period in 2021.

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

• Average sold price was $722,148 (up 12% from the same time period in 2021).

4,776 homes came on the market. That’s down 8% from March 2021.

• Homes that sold (closed) averaged 12 days on market, 4 days faster than in March of 2021.

• There is currently a 0.5 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 1,851 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained an aggressive Seller’s Market. Inventory increased 41% from last month (but continues to be historically low) and sold prices continued to rise. 

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: March 2022 Home Sales

Oakton: March 2022 Home Sales 

McLean: March 2022 Home Sales 

Great Falls: March 2022 Home Sales 

Reston: March 2022 Home Sales 

Falls Church: March 2022 Home Sales 

Arlington: March 2022 Home Sales

Alexandria: March 2022 Home Sales  

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

Want to know what your home is worth? Click below to get our free instant home valuation!