2023-10 - Real Estate of NVA - Quarterly Market Analysis
The headline news, bless its heart, points fingers at high interest rates, claiming they're playing spoilsport with sales across the region. However, the truth is, it's not all about the interest rates, folks. There are simply 25% fewer homes on the market this year compared to the last, creating a real estate version of "Where's Waldo." Interest rates do have a say in the game, but with inventory doing its best disappearing act, competition's dropped and property conditions are under the spotlight like never before. During the fall season, headline news also report big drops in pricing, etc. This is why I count on YoY YTD values to smooth out the external and seasonal factors to tell the story of the year. If you remember this time last year, we hit 8% interest rates affecting the market for a split second before sales were back on again. This report takes the regional view and dives deep into the details by city and structure types and size to get you as close as you can to real value for your home without a custom market analysis of your home.
The headline news, bless its heart, points fingers at high interest rates, claiming they're playing spoilsport with sales across the region. However, the truth is, it's not all about the interest rates, folks. There are simply 25% fewer homes on the market this year compared to the last, creating a real estate version of "Where's Waldo." Interest rates do have a say in the game, but with inventory doing its best disappearing act, competition's dropped and property conditions are under the spotlight like never before.
During the fall season, headline news also report big drops in pricing, etc. This is why I count on YoY YTD values to smooth out the external and seasonal factors to tell the story of the year. If you remember this time last year, we hit 8% interest rates affecting the market for a split second before sales were back on again.
This report takes the regional view and dives deep into the details by city and structure types and size to get you as close as you can to real value for your home without a custom market analysis of your home.
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REAL<br />
ESTATE<br />
<strong>of</strong> N VA<br />
[ OCT <strong>2023</strong> ]<br />
Q3 MARKET ANALYSIS<br />
<strong>Quarterly</strong> Report<br />
Fairfax County | Loudoun County<br />
Prince William County | Fauquier County<br />
Stafford County | Spotsylvania County<br />
Alexandria | Arlington | Fairfaix | Falls Church<br />
Manassas | Manassas Park | Fredericksburg
Hello Friends <strong>of</strong> <strong>NVA</strong>!<br />
The <strong>NVA</strong> Residential <strong>Real</strong> <strong>Estate</strong> <strong>Market</strong> Report — a powerhouse <strong>of</strong> insights that unveils the<br />
beating heart <strong>of</strong> Northern Virginia's real estate landscape. This isn't just another report; it's a<br />
precision-crafted compass for navigating the ever-evolving terrain <strong>of</strong> the <strong>NVA</strong> market.<br />
Prepare to dive deep into a treasure trove <strong>of</strong> meticulously curated data, sourced directly from<br />
the local listing service, Bright MLS. This report is not a mere compilation <strong>of</strong> what happened<br />
yesterday; it's a symphony <strong>of</strong> knowledge, orchestrated by an author who not only walks the<br />
path <strong>of</strong> a <strong>Real</strong>tor but also breathes the air <strong>of</strong> a lifelong resident <strong>of</strong> this very region.<br />
With a career spanning over three decades as a consummate market analyst, consultant and<br />
strategic visionary in the technology realm, this report is not just about numbers; it's a guide, a<br />
beacon, and a reservoir <strong>of</strong> actionable wisdom. Our goal isn't just to inform, but to empower —<br />
empowering every seller and buyer within our circle to make confident, astute decisions in the<br />
dynamic realm <strong>of</strong> <strong>NVA</strong> real estate and cut through the hype news headlines.<br />
This report spans across the ten jurisdictions <strong>of</strong> the Northern Virginia Economic Development<br />
Alliance along with the Counties <strong>of</strong> Stafford and Spotsylvania and the City <strong>of</strong> Fredericksburg<br />
— a testament to its comprehensive embrace <strong>of</strong> the region's heartbeat. Engage with us, with a<br />
quarterly rendezvous <strong>of</strong> videos and insights that illuminate the path forward.<br />
Distance is no barrier to our commitment. Whether you're nestled within the heart <strong>of</strong> <strong>NVA</strong> or a<br />
distant admirer, your questions about the <strong>NVA</strong> Residential <strong>Real</strong> <strong>Estate</strong> <strong>Market</strong> will find their<br />
answers here.<br />
We look forward to our conversation as we stride towards your real estate aspirations in the<br />
place we call home, the realm we cherish — Northern Virginia.<br />
Michele<br />
Michele Hudnall<br />
GRID Agent Investor<br />
michele@realestate<strong>of</strong>nva.com<br />
703.867.3436<br />
realestate<strong>of</strong>nva.com<br />
@realestate<strong>of</strong>nva
Table <strong>of</strong> Contents<br />
Each city / county is broken down into 3 sections:<br />
1. Overview and trending graphs <strong>of</strong> the area<br />
2. Details by structure type - Condo, Detached, Townhomes<br />
3. Sold home averages by city, structure and number <strong>of</strong> bedrooms<br />
How to Use the Report<br />
The analysis does not replace a detailed analysis specific to your property, it is meant to serve as an indication <strong>of</strong> how the market is trending more specific to<br />
your home type and city.<br />
The Month over Month comparison indicates current market condition, Year over Year is a comparison to this month last year and the YTD (year to date) Year<br />
over Year comparison averages the highs and lows <strong>of</strong> the seasonal trends in the market.<br />
The report is not intended to be read cover to cover, but rather represent the <strong>10</strong> jurisdictions that make-up Northern Virginia and allow you to focus on the<br />
region <strong>of</strong> your interest!<br />
6<br />
14<br />
85<br />
161<br />
NORTHERN VIRGINIA OVERVIEW<br />
CITIES OF NORTHERN VIRGINIA<br />
15<br />
25<br />
35<br />
45<br />
55<br />
65<br />
75<br />
| Alexandria City<br />
| Arlington City<br />
| Fairfax City<br />
| Falls Church City<br />
| Manassas City<br />
| Manassas Park City<br />
| Fredericksburg City<br />
COUNTIES OF NORTHERN VIRGINIA<br />
86<br />
99<br />
112<br />
125<br />
138<br />
151<br />
| Fairfax<br />
| Loudoun<br />
| Prince William<br />
| Fauquier<br />
| Stafford<br />
| Spotsylvania<br />
ABOUT REAL ESTATE OF NORTHERN VIRGINIA
NORTHERN VIRGINIA<br />
MARKET OVERVIEW<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
6.95%<br />
INTEREST<br />
RATES<br />
30 Yr FRM 12/14/23<br />
As Reported by Freddie Mac<br />
Begining to decline after rising<br />
over 8%<br />
16 year high at over 8%<br />
Interest rates are putting buyers on<br />
the sidelines, while other buyers<br />
are taking advantage <strong>of</strong> the<br />
opportunity to negotiate lower<br />
home prices and contingencies.<br />
24.56% Active YoY YTD<br />
4.20 & Mo Inv<br />
INVENTORY<br />
Sellers <strong>Market</strong> Inventory Level with<br />
Buyer Negotiability<br />
Inventory remains flat at 1<br />
month's supply.<br />
Sellers achieve premiums<br />
when home is well positioned<br />
to come to market inciting<br />
competition.<br />
Sellers and buyers are sitting on<br />
the sidelines "waiting" on interest<br />
rates. Savvy buyers and sellers are<br />
taking advantage <strong>of</strong> the market!<br />
3.18% YTD<br />
1.76% YoY<br />
MONTH ENDING<br />
OCT 31, <strong>2023</strong><br />
CLOSE<br />
PRICE<br />
Prices are on a Steady Rise<br />
~3% rise YTD and 1.76% YoY<br />
recouping from last Sept's dip<br />
after interest rates rose.<br />
Sellers are <strong>of</strong>fering concessions<br />
at a rate <strong>of</strong> 1 in 5 sales.<br />
Prices are rising at a steady rate.<br />
This is a more natural pace for the<br />
region, however, it will accelerate<br />
if/when interest rates drop and<br />
buyers flood the market.<br />
NEW<br />
LISTINGS<br />
NEWS<br />
Hype News Due to 'New Normal'<br />
Number <strong>of</strong> Sold Homes is<br />
down = low inventory<br />
More normal to buyers market<br />
not true - It's been 4-5 Years<br />
since we've seen 2 Months <strong>of</strong><br />
inventory making it 'feel' like a<br />
more normal market.<br />
Normal market = 4-6 months <strong>of</strong><br />
inventory - we are at 1 month <strong>of</strong><br />
inventory.<br />
19.59% YoY YTD<br />
Winning in low inventory market<br />
Leveled <strong>of</strong>f - minimal rise<br />
Sellers are waiting on interest<br />
rates to drop, bringing more<br />
buyers, increased competition<br />
and bidding wars.<br />
While listings and inventory are<br />
low, savvy buyers can achieve a<br />
reasonable price with<br />
contingencies by not sitting on the<br />
sidelines.<br />
19 DOM<br />
MARKETABILITY &<br />
NEGOTIABILITY<br />
Feels like buyers have an advantage<br />
due to less buyers in the market<br />
Buying now means less<br />
competition and better prices.<br />
Making an <strong>of</strong>fer right away<br />
achieves a less competitive<br />
situation<br />
Negotiability for contingencies and<br />
less <strong>of</strong> a premium (i.e., less bidding<br />
war) can be achieved for those<br />
buying and <strong>of</strong>fering early and not<br />
waiting for a price reduction.<br />
H I G H L I G H T S<br />
[ NORTHERN VIRGINIA ]
|| NORTHERN VIRGINIA OVERVIEW<br />
2,378<br />
Homes Sold<br />
SALES<br />
3.18%<br />
YoY YTD Appreciation<br />
$690,899<br />
Avg Sales Price<br />
NEGOTIABLITY<br />
$9,508<br />
Avg Concession<br />
8.94%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.87%<br />
Sale to Orig List Price<br />
19<br />
Avg Days on <strong>Market</strong><br />
*This Northern Virginia Region GRAPH does not include Fredericksburg, Spotsylvania County or Stafford County.<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 6 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
NORTHERN VIRGINIA - INVENTORY | APPRECIATION | PRICES<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium<br />
Detached<br />
Townhome<br />
YoY YTD APPRECIATION<br />
Average Sold Price<br />
Condominium<br />
Detached<br />
Townhome<br />
*These Northern Virginia Region GRAPHS do not include Fredericksburg, Spotsylvania County or Stafford County.<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 7 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
EXTERNAL FACTOR<br />
NORTHERN VIRGINIA - EXTERNAL FACTORS<br />
Interest Rates<br />
Freddie Mac Rates Week Ending 12/14/<strong>2023</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 6 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALL NORTHERN VIRGINIA CITIES - SORTED BY PRICE CHG %<br />
CLOSED HOMES & PRICES - YoY-YTD <strong>10</strong>/<strong>2023</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 8 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALL NORTHERN VIRGINIA CITIES - SORTED BY PRICE CHG %<br />
CLOSED CONDOMINIUM HOMES & PRICES - YoY-YTD <strong>10</strong>/<strong>2023</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 9 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALL NORTHERN VIRGINIA CITIES - SORTED BY PRICE CHG %<br />
CLOSED DETACHED HOMES & PRICES - YoY-YTD <strong>10</strong>/<strong>2023</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- <strong>10</strong> -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALL NORTHERN VIRGINIA CITIES - SORTED BY PRICE CHG %<br />
CLOSED TOWNHOMES & PRICES - YoY-YTD <strong>10</strong>/<strong>2023</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 12 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
THE CITIES OF<br />
NORTHERN VIRGINIA<br />
MARKET OVERVIEW<br />
Alexandria | Arlington<br />
Fairfax | Falls Church<br />
Manassas | Manassas Park<br />
Fredericksburg
ALEXANDRIA CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| ALEXANDRIA CITY OVERVIEW<br />
158<br />
Homes Sold<br />
SALES<br />
3.86%<br />
YoY TD Appreciation<br />
$752,817<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$7,775<br />
Avg Concession<br />
22.78%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.33%<br />
Sale to Orig List Price<br />
17<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 15 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 16 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
74<br />
Homes Sold<br />
SALES<br />
9.24%<br />
Appreciation<br />
$434,582<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$6,527<br />
Avg Concession<br />
28.38%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.35%<br />
Sale to Orig List Price<br />
18<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 17 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 18 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
29<br />
Homes Sold<br />
SALES<br />
1.05%<br />
Appreciation<br />
$1,204,517<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$11,444<br />
Avg Concession<br />
27.59%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.32%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 21 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 22 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
55<br />
Homes Sold<br />
SALES<br />
0.18%<br />
Appreciation<br />
$942,819<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,508<br />
Avg Concession<br />
8.94%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.33%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 24 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ALEXANDRIA CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 25 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| ARLINGTON CITY OVERVIEW<br />
145<br />
Homes Sold<br />
SALES<br />
2.97%<br />
Appreciation<br />
$874,651<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$7,579<br />
Avg Concession<br />
20.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.00%<br />
Sale to Orig List Price<br />
21<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 28 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 28 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
61<br />
Homes Sold<br />
SALES<br />
-0.01%<br />
Appreciation<br />
$449,152<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
2,821<br />
Avg Concession<br />
19.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.<strong>10</strong>%<br />
Sale to Orig List Price<br />
22<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 30 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 31 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
60<br />
Homes Sold<br />
SALES<br />
3.01%<br />
Appreciation<br />
$1,367,980<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$13,215<br />
Avg Concession<br />
21.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.75%<br />
Sale to Orig List Price<br />
26<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 34 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 35 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
24<br />
Homes Sold<br />
SALES<br />
0.66%<br />
Appreciation<br />
$722,808<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$3,537<br />
Avg Concession<br />
16.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.00%<br />
Sale to Orig List Price<br />
9<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 38 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
ARLINGTON CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 39 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| FAIRFAX CITY OVERVIEW<br />
28<br />
Homes Sold<br />
SALES<br />
2.40%<br />
Appreciation<br />
$707,497<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$3,007<br />
Avg Concession<br />
28.57%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.21%<br />
Sale to Orig List Price<br />
17<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
5<br />
Homes Sold<br />
SALES<br />
<strong>10</strong>.83%<br />
Appreciation<br />
$270,200<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$0<br />
Avg Concession<br />
0.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.71%<br />
Sale to Orig List Price<br />
7<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 44 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 45 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
9<br />
Homes Sold<br />
SALES<br />
-0.07%<br />
Appreciation<br />
$816,889<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$1,500<br />
Avg Concession<br />
22.22%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
96.23%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 47 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 48 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
9<br />
Homes Sold<br />
SALES<br />
17.5%<br />
Appreciation<br />
$816,889<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,500<br />
Avg Concession<br />
22.22%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
96.23%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 50 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 51 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| FALLS CHURCH CITY OVERVIEW<br />
9<br />
Homes Sold<br />
SALES<br />
-5.26%<br />
Appreciation<br />
$1,008,082<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$3,112<br />
Avg Concession<br />
11.11%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.65%<br />
Sale to Orig List Price<br />
18<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 54 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
4<br />
Homes Sold<br />
SALES<br />
1.56%<br />
Appreciation<br />
$592,748<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$3,112<br />
Avg Concession<br />
25.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.79%<br />
Sale to Orig List Price<br />
11<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 56 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 57 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
5<br />
Homes Sold<br />
SALES<br />
0.26%<br />
Appreciation<br />
$1,340,350<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$0<br />
Avg Concession<br />
0.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
97.92%<br />
Sale to Orig List Price<br />
24<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 59 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 60 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
0<br />
Homes Sold<br />
SALES<br />
9.39%<br />
Appreciation<br />
$0<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$0<br />
Avg Concession<br />
0.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
0.0%<br />
Sale to Orig List Price<br />
0<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 62 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FALLS CHURCH CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 63 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| MANASSAS CITY OVERVIEW<br />
45<br />
Homes Sold<br />
SALES<br />
3.72%<br />
Appreciation<br />
$441,389<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,995<br />
Avg Concession<br />
35.56%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.15%<br />
Sale to Orig List Price<br />
19<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 66 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
6<br />
Homes Sold<br />
SALES<br />
9.48%<br />
Appreciation<br />
$309,317<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$8,275<br />
Avg Concession<br />
33.33%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>1.70%<br />
Sale to Orig List Price<br />
<strong>10</strong><br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 68 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 69 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
15<br />
Homes Sold<br />
SALES<br />
3.17%<br />
Appreciation<br />
$563,460<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$7,840<br />
Avg Concession<br />
13.33%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
97.74%<br />
Sale to Orig List Price<br />
28<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 71 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 72 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
24<br />
Homes Sold<br />
SALES<br />
7.64%<br />
Appreciation<br />
$398,112<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,307<br />
Avg Concession<br />
50.0%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.94%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 74 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 75 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| MANASSAS PARK CITY OVERVIEW<br />
16<br />
Homes Sold<br />
SALES<br />
9.18%<br />
Appreciation<br />
$439,356<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$4,809<br />
Avg Concession<br />
37.50%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>1.21%<br />
Sale to Orig List Price<br />
12<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 78 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
3<br />
Homes Sold<br />
SALES<br />
3.95%<br />
Appreciation<br />
$314,833<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,000<br />
Avg Concession<br />
66.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.0%<br />
Sale to Orig List Price<br />
14<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 80 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 81 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
8<br />
Homes Sold<br />
SALES<br />
6.78%<br />
Appreciation<br />
$444,400<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$6,283<br />
Avg Concession<br />
37.50%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.50%<br />
Sale to Orig List Price<br />
11<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 83 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 84 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
5<br />
Homes Sold<br />
SALES<br />
16.46%<br />
Appreciation<br />
$506,00<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$3<br />
Avg Concession<br />
20.0%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>2.69%<br />
Sale to Orig List Price<br />
13<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 86 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
MANASSAS PARK CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 87 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| FREDERICKSBURG CITY OVERVIEW<br />
23<br />
Homes Sold<br />
SALES<br />
6.36%<br />
Appreciation<br />
$456,227<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,524<br />
Avg Concession<br />
21.74%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
97.81%<br />
Sale to Orig List Price<br />
34<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 78 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
2<br />
Homes Sold<br />
SALES<br />
-20.08%<br />
Appreciation<br />
$378,500<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$0<br />
Avg Concession<br />
0.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
85.15%<br />
Sale to Orig List Price<br />
65<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 80 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 81 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
15<br />
Homes Sold<br />
SALES<br />
9.56%<br />
Appreciation<br />
$516,820<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$8,835<br />
Avg Concession<br />
26.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.05%<br />
Sale to Orig List Price<br />
35<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 83 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 84 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
6<br />
Homes Sold<br />
SALES<br />
2.64%<br />
Appreciation<br />
$330,653<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$12,279<br />
Avg Concession<br />
16.67%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>2.66%<br />
Sale to Orig List Price<br />
20<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 86 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FREDERICKSBURG CITY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 87 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
THE COUNTIES OF<br />
NORTHERN VIRGINIA<br />
MARKET OVERVIEW<br />
Fairfax | Loudoun<br />
Prince William | Fauquier<br />
Stafford | Spotsylvania
FAIRFAX COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| FAIRFAX COUNTY OVERVIEW<br />
856<br />
Homes Sold<br />
SALES<br />
2.89%<br />
Appreciation<br />
$761,332<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,267<br />
Avg Concession<br />
22.55%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.87%<br />
Sale to Orig List Price<br />
18<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 91 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
175<br />
Homes Sold<br />
SALES<br />
6.85%<br />
Appreciation<br />
$346,138<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,367<br />
Avg Concession<br />
20.57%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.39%<br />
Sale to Orig List Price<br />
15<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 93 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 94 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED CONDOMINIUM HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 95 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
395<br />
Homes Sold<br />
SALES<br />
1.01%<br />
Appreciation<br />
$1,058,047<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$11,440<br />
Avg Concession<br />
20.51%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.38%<br />
Sale to Orig List Price<br />
20<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- <strong>10</strong>0 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- <strong>10</strong>1 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- <strong>10</strong>2 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
2,286378<br />
Homes Sold<br />
SALES<br />
2.60%<br />
Appreciation<br />
$605,585<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$8,798<br />
Avg Concession<br />
26.57%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.91%<br />
Sale to Orig List Price<br />
17<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 113 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 114 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAIRFAX COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 115 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| LOUDOUN COUNTY OVERVIEW<br />
345<br />
Homes Sold<br />
SALES<br />
1.94%<br />
Appreciation<br />
$740,802<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,496<br />
Avg Concession<br />
25.22%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.81%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 124 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
47<br />
Homes Sold<br />
SALES<br />
0.65%<br />
Appreciation<br />
$422,368<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,772<br />
Avg Concession<br />
25.53%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.27%<br />
Sale to Orig List Price<br />
11<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 126 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 127 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED CONDOMINIUM HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 128 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
146<br />
Homes Sold<br />
SALES<br />
2.50%<br />
Appreciation<br />
$974,406<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,781<br />
Avg Concession<br />
27.40%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
97.86%<br />
Sale to Orig List Price<br />
18<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 130 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 131 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 132 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
152<br />
Homes Sold<br />
SALES<br />
3.25%<br />
Appreciation<br />
$614, 881<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$8,733<br />
Avg Concession<br />
23.03%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.98%<br />
Sale to Orig List Price<br />
16<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 139 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 140 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
LOUDOUN COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 141 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| PRINCE WILLIAM COUNTY OVERVIEW<br />
395<br />
Homes Sold<br />
SALES<br />
2.80%<br />
Appreciation<br />
572,002<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$11,208<br />
Avg Concession<br />
33.42%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.42%<br />
Sale to Orig List Price<br />
19<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 148 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
23<br />
Homes Sold<br />
SALES<br />
9.56%<br />
Appreciation<br />
$378,228<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,267<br />
Avg Concession<br />
65.22%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.845<br />
Sale to Orig List Price<br />
39<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 150 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 151 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED CONDOMINIUM HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 152 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
208<br />
Homes Sold<br />
SALES<br />
0.51%<br />
Appreciation<br />
$668,913<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$12,118<br />
Avg Concession<br />
27.40%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.93%<br />
Sale to Orig List Price<br />
20<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 154 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 155 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 156 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
164<br />
Homes Sold<br />
SALES<br />
6.24%<br />
Appreciation<br />
$476,266<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,580<br />
Avg Concession<br />
36.59%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.26%<br />
Sale to Orig List Price<br />
14<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 165 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 166 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
PRINCE WILLIAM COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 167 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| FAUQUIER COUNTY OVERVIEW<br />
76<br />
Homes Sold<br />
SALES<br />
-0.52%<br />
Appreciation<br />
$701,203<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,483<br />
Avg Concession<br />
23.68%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
96.52%<br />
Sale to Orig List Price<br />
19<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 174 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
1<br />
Homes Sold<br />
SALES<br />
2.16%<br />
Appreciation<br />
$225,000<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
$6,750<br />
Avg Concession<br />
<strong>10</strong>0.00%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.00%<br />
Sale to Orig List Price<br />
15<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 176 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 177 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED CONDOMINIUM HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 178 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
67<br />
Homes Sold<br />
SALES<br />
0.69%<br />
Appreciation<br />
$746,061<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$9,2<strong>10</strong><br />
Avg Concession<br />
20.90%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
96.34%<br />
Sale to Orig List Price<br />
20<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 179 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 180 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Averages & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
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REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
8<br />
Homes Sold<br />
SALES<br />
2.50%<br />
Appreciation<br />
$385,044<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$11,667<br />
Avg Concession<br />
37.50%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.28%<br />
Sale to Orig List Price<br />
9<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 183 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
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REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
FAUQUIER COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 185 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| STAFFORD COUNTY OVERVIEW<br />
136<br />
Homes Sold<br />
SALES<br />
3.<strong>10</strong>%<br />
Appreciation<br />
$527,043<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,399<br />
Avg Concession<br />
39.71%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.70%<br />
Sale to Orig List Price<br />
23<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 174 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY CONDOMINIUM HOMES - <strong>10</strong>/<strong>2023</strong><br />
3<br />
Homes Sold<br />
SALES<br />
18.43%<br />
Appreciation<br />
$270,333<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,000<br />
Avg Concession<br />
33.33%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>1.39%<br />
Sale to Orig List Price<br />
6<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 176 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY CONDOMINIUM HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 177 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED CONDOMINIUM HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 178 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
<strong>10</strong>6<br />
Homes Sold<br />
SALES<br />
1.16%<br />
Appreciation<br />
$566,434<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$11,611<br />
Avg Concession<br />
41.51%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.43%<br />
Sale to Orig List Price<br />
25<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 179 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 180 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 181 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
27<br />
Homes Sold<br />
SALES<br />
5.55%<br />
Appreciation<br />
$400,922<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$5,073<br />
Avg Concession<br />
33.33%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
<strong>10</strong>0.02%<br />
Sale to Orig List Price<br />
19<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 183 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 184 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
STAFFORD COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 185 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY<br />
MARKET ANALYSIS<br />
[ OCT <strong>2023</strong> ]
|| SPOTSYLVANIA COUNTY OVERVIEW<br />
146<br />
Homes Sold<br />
SALES<br />
4.58%<br />
Appreciation<br />
$498,170<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,079<br />
Avg Concession<br />
43.84%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.18%<br />
Sale to Orig List Price<br />
27<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 174 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY <strong>10</strong> YEAR TRENDING CHARTS<br />
Inventory & Prices<br />
Month’s Supply <strong>of</strong> Homes<br />
Condominium Detached Townhome<br />
Average Sold Price<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 42 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY DETACHED HOMES - <strong>10</strong>/<strong>2023</strong><br />
130<br />
Homes Sold<br />
SALES<br />
4.39%<br />
Appreciation<br />
$518,111<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$<strong>10</strong>,498<br />
Avg Concession<br />
43.45%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
98.19%<br />
Sale to Orig List Price<br />
28<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 179 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY DETACHED HOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 180 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED DETACHED HOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 181 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY TOWNHOMES - <strong>10</strong>/<strong>2023</strong><br />
16<br />
Homes Sold<br />
SALES<br />
8.52%<br />
Appreciation<br />
$336,147<br />
Avg Sales Price<br />
NEGOTIABLITY &<br />
COMPETITION<br />
NEGOTIABLITY<br />
$6,672<br />
Avg Concession<br />
43.75%<br />
% <strong>of</strong> Sales w/ Concession<br />
MAREKETABILITY<br />
99.65%<br />
Sale to Orig List Price<br />
20<br />
Avg Days on <strong>Market</strong><br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 183 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY TOWNHOMES - TRENDS<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 184 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
SPOTSYLVANIA COUNTY SALES - <strong>10</strong>/<strong>2023</strong><br />
CLOSED TOWNHOMES & PRICES by Cities & Beds<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>NVA</strong> <strong>Market</strong> <strong>Analysis</strong><br />
- 185 -<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong>
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong><br />
My Story<br />
Michele's roots in Northern Virginia run deep. From her college<br />
years to the tech industry boom, she embraced challenges and<br />
relocated multiple times, fueled by her thirst for growth. Taking<br />
a leap into startup technology in the 1990s ignited her passion<br />
for learning and embracing the unknown.<br />
In the vast tapestry <strong>of</strong> Northern Virginia, Michele's roots run deep, with<br />
an unyielding passion to help her clients make smart moves. This<br />
region is a sprawling masterpiece, each corner radiating a unique<br />
personality that caters to diverse lifestyles. Michele's unwavering<br />
mission is to delve into the essence <strong>of</strong> her clients' aspirations,<br />
meticulously curating the perfect match between their dreams and the<br />
vibrant tapestry <strong>of</strong> Northern Virginia, even as lifestyles evolve and<br />
dreams take new forms.<br />
Armed with a formidable arsenal <strong>of</strong> market analysis, strategic<br />
prowess, and unrivaled consulting expertise, Michele empowers her<br />
clients to navigate the ever-shifting currents <strong>of</strong> the real estate<br />
landscape. She unveils the intricate dynamics and fierce competition<br />
that shape the market, providing her clients with a pr<strong>of</strong>ound<br />
understanding that fuels their success. While the emotional tides <strong>of</strong><br />
property transactions can easily sway hearts, Michele stands<br />
unwavering as the guardian <strong>of</strong> her clients' best interests, ensuring they<br />
relish every precious moment along the way.<br />
Michele has forged an alliance with the industry's trailblazers, joining<br />
forces with <strong>Real</strong> Broker, LLC, a groundbreaking startup that challenges<br />
the very fabric <strong>of</strong> conventional practices. With an expanding network <strong>of</strong><br />
exceptional agents nationwide, armed with cutting-edge resources,<br />
Michele remains at the vanguard <strong>of</strong> the evolving real estate industry,<br />
poised to transform dreams into concrete reality.<br />
With almost three decades <strong>of</strong> experience in start-ups,<br />
acquisitions, and global ventures, Michele has gained<br />
unparalleled wisdom and diverse experiences. Her father's<br />
belief in education and the power <strong>of</strong> possibilities set the<br />
foundation for her career.<br />
Now, Michele embarks on a new venture, merging her<br />
dedication to customer service and consulting with her love for<br />
her hometown. Leveraging her expertise in market analysis and<br />
strategic thinking, she guides clients through lifestyle<br />
transitions, property acquisitions, and sales, ensuring they<br />
make brilliant moves in the ever-evolving market.<br />
Residing in Reston, Michele is a proud JMU alumni, sports<br />
enthusiast, food lover, and community builder. Join forces with<br />
Michele, the maestro <strong>of</strong> Northern Virginia real estate, and<br />
unlock the door to your dreams in <strong>NVA</strong>!<br />
Michele<br />
@realestate<strong>of</strong>nva<br />
The Stats That Matter Most to Me!<br />
Discover the unparalleled service, the unwavering commitment, and<br />
the magnetic spirit that will guide you towards finding not just a home,<br />
but a sanctuary where dreams flourish.<br />
Are you ready to unlock the door to your <strong>NVA</strong> destiny?<br />
Michele Hudnall<br />
GRID Agent Investor<br />
703.867.3436<br />
michele@realestate<strong>of</strong>nva.com<br />
calendly.com/realestate<strong>of</strong>nva<br />
Offers Written<br />
to Win<br />
< 3<br />
Appraisal to<br />
Sale Price<br />
99.42%<br />
Finding Home<br />
in Weeks<br />
< 6 Weeks<br />
Appraisals<br />
Equity<br />
Appraisal to<br />
List Price<br />
<strong>10</strong>1.55%<br />
Speed to Close<br />
in Bus Days<br />
2 Weeks<br />
8 Biz Days
<strong>Market</strong> Strategy<br />
in <strong>NVA</strong> -<br />
with Confidence!<br />
REAL<br />
ESTATE<br />
<strong>of</strong> <strong>NVA</strong><br />
1765 Greensboro Station Place | Suite 900 | McLean, VA 22<strong>10</strong>2 | 703.867.3436