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As we wrapped up September, the Northern Virginia real estate market continued to thrive as a strong seller\u2019s market, despite a gradual rise in housing inventory. Buyer demand is still outpacing available homes, keeping competition fierce among those looking to purchase. For sellers, this is an ideal time to consider listing their properties.<\/strong><\/p>\n See below for September and Q3 home sale statistics, as well as links to some of our hyper-local market updates for areas throughout Northern Virginia.<\/strong><\/p>\n Northern Virginia <\/u>September\/Q3 2024 Home Sales:<\/u><\/span><\/strong><\/p>\n \u2022 2,431\u00a0homes went under contract<\/strong>\u00a0in the region. This is\u00a0up 15%<\/strong> from the same time period in 2023.<\/p>\n \u2022 53%<\/strong>\u00a0of the homes that went to settlement in September 2024, sold in 10 days or less from when they hit the market.<\/p>\n \u2022 Average sold price was\u00a0$789,699<\/strong>\u00a0(up 12%<\/strong> from the same time period in 2023).<\/p>\n \u2022 \u00a02,449 homes came on the market<\/strong>. That\u2019s up 6% <\/strong>from September 2023.<\/p>\n \u2022 Homes that sold (closed)\u00a0averaged 20 days on market,<\/strong> 3 days slower than <\/strong>September 2023.<\/p>\n \u2022 There is currently a\u00a01.4 month supply<\/strong>\u00a0of homes (remember, in a balanced market \u2013 the demand from buyers equals the supply from sellers \u2013 there is a 5-6 months supply) in Northern Virginia \u2013 and 3,536 homes for sale (townhouse, condo and single-family).<\/p>\n Additional 3rd Quarter-End Stats \u2013 2024 vs 2023:<\/strong><\/p>\n Average sold price increased by 6.5% ($791,796 vs $743,608)<\/p>\n Total units sold increased by 5%<\/p>\n Average sales price to original list price ratio decreased slightly \u2013 99.8% vs 100.5%<\/p>\n OVERALL: Northern Virginia remained in a Seller\u2019s Market<\/strong>. The number of homes coming on the market\u00a0 was basically unchanged and the number going under contract decreased from last month.\u00a0 Overall inventory was up from August, and up 12%<\/strong> year-over-year.\u00a0 Average sold price increased just slightly and was up from this time last year. <\/p>\n To see what the conditions are like in your community, click on the link to your desired city below!\u00a0<\/em><\/strong><\/p>\n Vienna: September\/Q3 2024 Home Sales<\/a><\/p>\n Oakton: September\/Q3 2024 Home Sales\u00a0<\/a><\/p>\n McLean: September\/Q3 2024 Home Sales\u00a0<\/a><\/p>\n Great Falls: September\/Q3 2024 Home Sales\u00a0<\/a><\/p>\n Reston: September\/Q3 2024 Home Sales\u00a0<\/a><\/p>\n Falls Church: September\/Q3 2024 Home Sales\u00a0<\/a><\/p>\n Arlington: September\/Q3 Home Sales<\/a><\/p>\n Alexandria: September\/Q3 2024 Home Sales\u00a0\u00a0<\/a><\/p>\n *Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).<\/em><\/strong><\/p>\n If you have any lingering questions about maneuvering through this market or require assistance with buying or selling, don\u2019t hesitate to reach out to The Belt Team. With over 56 years of experience selling Northern Virginia, we\u2019re seasoned local experts eager to lend a hand!<\/strong><\/p>\n (703) 242-3975 | Info@TheBeltTeam.com | or fill out our\u00a0<\/strong>Contact Us<\/a>\u00a0form<\/strong><\/p>\n<\/p><\/div>\n