Median prices have dipped, but move-in-ready homes are still drawing offers. Discover which properties are selling quickly and why.
We’re seeing a clear shift in the Northern Virginia housing market this summer, and both buyers and sellers need to understand what that means. Prices are no longer rising across the board, and inventory is climbing in some key segments. If you’re planning a move or watching the trends, here’s what we’re seeing right now:
Median prices have dropped by about 6%. This follows several years of strong growth, where many homes appreciated by 30% to 40%. Sellers still have solid equity, but those holding out for top-of-market prices are starting to miss their window. Homes that are outdated or priced too high are sitting longer and often selling below expectations.
Condos are seeing the most dramatic change. Active listings are up more than 110%, which is a strong early indicator of price pressure. Homes that haven’t been maintained or updated are getting discounted by buyers who are facing higher renovation costs. On the flip side, updated homes in good condition are still selling quickly and drawing strong interest.
Understanding what’s happening in today’s market is the first step toward making a confident move. If you’re planning to buy or sell this summer, feel free to call or text us at 571-210-1818 or email us at info@ajteamrealty.com. We’d be happy to walk you through how these changes may impact your timing, pricing, and next steps.
