The month-end stats are out and Terry’s back with the latest on the current real estate market. Historically, the end of the year has been a great time to buy a home—but is that true this year?And what should sellers know right now? Watch as Terry breaks down what buyers and sellers need to know in today’s market!
To see all of our home sales numbers for the Northern Virginia Region and many of our hyper local areas, see below and then head to the links at the bottom of the page.
Northern Virginia October 2024 Home Sales:
• 2,343 homes went under contract in the region. This is up 15% from the same time period in 2023.
• 53% of the homes that went to settlement in October 2024, sold in 10 days or less from when they hit the market.
• Average sold price was $785,456 (up 10% from the same time period in 2023).
• 2,191 homes came on the market. That’s up 0.2% from October 2023.
• Homes that sold (closed) averaged 21 days on market, 4 days slower than October 2023.
• There is currently a 1.3 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 Northern Virginia – and 3,018 homes for sale (townhouse, condo and single-family).
OVERALL: Northern Virginia remained in a Seller’s Market. The number of homes coming on the market and the number going under contract decreased from last month. Overall inventory was down from September, but up 6% year-over-year. Average sold price decreased just slightly but was up from this time last year.
To see what the conditions are like in your community, click on the link to your desired city below!
Vienna: October 2024 Home Sales
Oakton: October 2024 Home Sales
McLean: October 2024 Home Sales
Great Falls: October 2024 Home Sales
Reston: October 2024 Home Sales
Falls Church: October 2024 Home Sales
Arlington: October 2024 Home Sales
Alexandria: October 2024 Home Sales
*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).
Ready to make your next move in Northern Virginia’s real estate market? Whether you’re looking to buy or sell, having an expert on your side can make all the difference. With years of experience and deep knowledge of the local market, we’re here to guide you every step of the way. Let’s discuss your goals and create a personalized strategy for your success. Contact us today and put a seasoned Northern Virginia realtor in your corner!
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