{"id":90894,"date":"2025-02-16T03:25:55","date_gmt":"2025-02-16T03:25:55","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/key-trends-buyer-tips-and-seller-insights-northern-virginia-real-estate-blog\/"},"modified":"2025-02-16T03:25:55","modified_gmt":"2025-02-16T03:25:55","slug":"key-trends-buyer-tips-and-seller-insights-northern-virginia-real-estate-blog","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=90894","title":{"rendered":"Key Trends, Buyer Tips, and Seller Insights \u2013 Northern Virginia Real Estate Blog"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><strong>As we look at the home sale numbers for August 2024 in Northern Virginia, it\u2019s clear that while the market isn\u2019t quite as hot as it was earlier this summer, it remains a solid seller\u2019s market. Demand is still high, but we\u2019re seeing some early signs that the market may be cooling. Homes are staying on the market a bit longer, and price growth is starting to moderate. What\u2019s behind this shift? Watch the latest video from Terry below, where he breaks down the current trends in the Northern Virginia market. He\u2019ll also share some encouraging news for buyers regarding interest rates and what this could mean for those looking to purchase a new home. Don\u2019t miss his insights into what the near future holds for both buyers and sellers in this evolving market.<\/strong><\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"jetpack-video-wrapper\">\n<p><iframe loading=\"lazy\" title=\"Northern Virginia Housing Market: August 2024 Trends &amp; Insights\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/ArmcIJzOi6c?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<\/div>\n<\/div>\n<\/figure>\n<p><strong>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.<\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline\"><u>Northern Virginia <\/u>August 2024<u> Home Sales:<\/u><\/span><\/strong><\/p>\n<p>\u2022 <strong>2,294\u00a0homes went under contract<\/strong>\u00a0in the region. This is\u00a0<strong>up 1.8%<\/strong> from the same time period in 2023.<\/p>\n<p>\u2022 <strong>56%<\/strong>\u00a0of the homes that went to settlement in August 2024, sold in 10 days or less from when they hit the market.<\/p>\n<p>\u2022 Average sold price was\u00a0<strong>$788,324<\/strong>\u00a0(<strong>up 3%<\/strong> from the same time period in 2023).<\/p>\n<p>\u2022 <strong>\u00a02,430 homes came on the market<\/strong>. That\u2019s <strong>down 2% <\/strong>from August 2023.<\/p>\n<p>\u2022 Homes that sold (closed)\u00a0<strong>averaged 17 days on market,<\/strong> <strong>1 day slower <\/strong>than in<strong> <\/strong>August 2023.<\/p>\n<p>\u2022 There is currently a\u00a0<strong>1.4 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 3,106 homes for sale (townhouse, condo and single-family).<\/p>\n<p><strong>OVERALL: Northern Virginia remained in a Seller\u2019s Market<\/strong>. The number of homes coming on the market\u00a0 again decreased from last month.\u00a0 Overall inventory was up however from July, and <strong>up 18%<\/strong> year-over-year.\u00a0 Average sold price decreased slightly but was still up from this time last year.\u2022 <strong>2,536\u00a0homes went under contract<\/strong>\u00a0in the region. This is\u00a0<strong>down 4.2%<\/strong> from the same time period in 2023.<\/p>\n<p><strong><em>To see what the conditions are like in your community, click on the link to your desired city below!\u00a0<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/vienna_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Vienna: August 2024 Home Sales<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/oakton_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Oakton: August 2024 Home Sales\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/mclean_2024\" target=\"_blank\" rel=\"noreferrer noopener\">McLean: August 2024 Home Sales\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/great_falls_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Great Falls: August 2024 Home Sales\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/reston_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Reston: August 2024 Home Sales\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/falls_church_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Falls Church: August 2024 Home Sales\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/arlington_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Arlington: August 2024 Home Sales<\/a><\/p>\n<p><a href=\"https:\/\/www.thebeltteam.com\/alexandria_2024\" target=\"_blank\" rel=\"noreferrer noopener\">Alexandria: August 2024 Home Sales\u00a0\u00a0<\/a><\/p>\n<p style=\"font-size:10px\"><strong><em>*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).<\/em><\/strong><\/p>\n<p><strong>Ready to make your next move in Northern Virginia\u2019s real estate market? Whether you\u2019re 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\u2019re here to guide you every step of the way. Let\u2019s discuss your goals and create a personalized strategy for your success. Contact us today and put a seasoned Northern Virginia realtor in your corner!<\/strong><\/p>\n<p><strong>(703) 242-3975 | Info@TheBeltTeam.com | or fill out our\u00a0<\/strong><a href=\"https:\/\/thebeltteam.com\/connect\" target=\"_blank\" rel=\"noreferrer noopener\">Contact Us<\/a><strong>\u00a0form<\/strong><\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&amp;appId=249643311490&version=v2.3\"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we look at the home sale numbers for August 2024 in Northern Virginia, it\u2019s clear that while the market isn\u2019t quite as hot as it was earlier this summer, it remains a solid seller\u2019s market. Demand is still high, but we\u2019re seeing some early signs that the market may be cooling. Homes are staying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":90895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[3767,20991,4856,10844,1088,7688,482,1026,3535,11604,14607],"dealstore":[],"offerexpiration":[],"class_list":["post-90894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-blog","tag-buyer","tag-estate","tag-insights","tag-key","tag-northern","tag-real","tag-seller","tag-tips","tag-trends","tag-virginia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Key Trends, Buyer Tips, and Seller Insights \u2013 Northern Virginia Real Estate Blog - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=90894\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key Trends, Buyer Tips, and Seller Insights \u2013 Northern Virginia Real Estate Blog - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"As we look at the home sale numbers for August 2024 in Northern Virginia, it\u2019s clear that while the market isn\u2019t quite as hot as it was earlier this summer, it remains a solid seller\u2019s market. 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