2024-06 - Real Estate of NVA - Quarterly Market Analysis

Michele Hudnall

Realtor - CEO | Agent Investor | Hometown NVA Girl -

Original Woodbridge Kid & Purple Bleeding Duke!

michele@realestateofnva.com

703.867.3436

realestateofnva.com

@realestateofnva

Each city / county is broken down into 3 sections:

1. Overview and trending graphs of the area

2. Details by structure type - Condo, Detached, Townhomes

3. Sold home averages by city, structure and number of bedrooms

How to Use the Report

The analysis does not replace a detailed analysis specific to your property, it is meant to serve as an indication of how the market is trending more specific to

your home type and city.

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

over Year comparison averages the highs and lows of the seasonal trends in the market.

The report is not intended to be read cover to cover, but rather represent the 10 jurisdictions that make-up Northern Virginia and allow you to focus on the

region of your interest!

11

20

29

38

47

56

65

| Alexandria City

| Arlington City

| Fairfax City

| Falls Church City

| Manassas City

| Manassas Park City

| Fredericksburg City

75

88

100

112

124

135

| Fairfax

| Loudoun

| Prince William

| Fauquier

| Stafford

| Spotsylvania

6.77%

30 Yr FRM 07/11/24

INTEREST

RATES

As Reported by Freddie Mac

Slight decline

Remaining flat in the high 6's

Interest rates are putting buyers on

the sidelines, while other buyers

are taking advantage of the

opportunity to negotiate.

9.50% YTD

7.92 YoY

CLOSE PRICE

APPRECIATION

Prices are on a Steady Rise

Homes continue to appreciate at

higher than average levels.

NVA continues to be deep in a

Sellers market. It remains a good

time to buy and make the

investment and begin growing

equity.

7.85% YoY YTD NEGOTIABILITY

13.78% with Concessions

Concession Value Increases

While there is a YoY YTD

increase in Concession value,

the percentage of sales with

concessions is ~14%.

Sellers are offering concessions

at a rate of 1 in 7.

27.56% Sold YoY YTD

1.27 Months of Invntry

14 DOM

100.86% List

to Sale Price

NEWS

New Normal Ahead in August

Beginning August 17th, Listing

Agents will no longer be able to

offer a cooperating fee to the

Buyers Agent.

Buyers and Agents will be

required to sign before touring

property.

Be sure you understand the

changes before starting your next

home search.

INVENTORY

Sellers Market Inventory Level with

Buyer Negotiability

Inventory is rising to 1.27

month's supply across NVA,

highest level in 5 years.

Active homes is rising at a

price higher than homes are

selling.

Homes priced aspirationally are

sitting on the market. Buyers are

not paying the “premiums”, while

homes continue to appreciate.

MARKETABILITY &

COMPETITION

Feels Like Buyers Have an Advantage

Active inventory is rising with

aspirational pricing when going

to market.

Buyers are on the sidelines due

to interest rates reducing

competition.

Negotiability for contingencies and

less of a premium can be achieved

for those buying and not waiting for

interest rate changes.

H I G H L I G H T S

[ NORTHERN VIRGINIA ]

What is my home worth?

3,930

Homes Sold

SALES

9.50%

YoY YTD Appreciation

$783,359

Avg Sales Price

What is the level of negotiability?

NEGOTIABLITY

$9,846

Avg Concession

13.78%

% of Sales w/ Concession

How fast will it sell?

MAREKETABILITY &

COMPETITION

100.86%

Sale to Orig List Price

14

Avg Days on Market

Inventory & Market Speed

MONTHS OF

INVENTORY

1.27

1.45

0.93

*This Northern Virginia Region GRAPH does not include Fredericksburg, Spotsylvania County or Stafford County.

Real Estate of NVA Market Analysis

- 6 -

REAL

ESTATE

of NVA

EXTERNAL FACTOR

How Do Real Estate Agents Get Paid? What to Know About Commissions After the NAR Settlement

Those rule changes include:

Mentions of buyer-agent compensation will now be prohibited in listings on Multiple Listing Services, the regional

databases agents use to list and market properties.

All commission splits will need to be negotiated separately, giving sellers more power over what—if any—

compensation they’ll offer to buyer agents.

Buyers and agents will need to sign a contract, detailing the fees and compensation they’ll owe, before even

touring a property. This may open the door to more negotiation for buyers and new pricing models—like slidingscale

commissions or an a la carte approach, where buyers pay per service. [BuySide - WSJ}


- 8 -

REAL

ESTATE

of NVA

YoY YTD APPRECIATION

Condominium

Detached

Townhome

Month’s Supply of Homes

Highest level of inventory in 3 years.


Highest level of inventory in 2 years, briefly.

Sellers Market

Persists

*This Northern Virginia Region GRAPH does not include Fredericksburg, Spotsylvania County or Stafford County.


- 7 -

REAL

ESTATE

of NVA





- 9 -

REAL

ESTATE

of NVA


236

Homes Sold

SALES

8.70%

YoY TD Appreciation

$834,670

Avg Sales Price


NEGOTIABLITY

$7,345

Avg Concession

13.14%



MAREKETABILITY &

COMPETITION

100.08%


16

Avg Days on Market


MONTHS OF

INVENTORY

1.18

1.52

1.02


- 12 -

REAL

ESTATE

of NVA

ALEXANDRIA CITY

Condominium

Detached

Townhome


Consistently low for the past 3 years.


Low levels, trying to come back to 2023 levels.

Sellers Market

Persists


- 13 -

REAL

ESTATE

of NVA


83

Homes Sold

SALES

-1.21%

Appreciation

$404,701

Avg Sales Price

What is the competition?

NEGOTIABLITY &

COMPETITION

NEGOTIABLITY

$7,165

Avg Concession

25.30%



MAREKETABILITY

99.95%


22

Avg Days on Market


MONTHS OF

INVENTORY

1.18

1.52

1.02

APPRECIATION


- 14 -

REAL

ESTATE

of NVA


- 15 -

REAL

ESTATE

of NVA


55

Homes Sold

SALES

9.08%

Appreciation

$1,252,906

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,375

Avg Concession

7.27%



MAREKETABILITY

99.15%


16

Avg Days on Market


MONTHS OF

INVENTORY

1.18

1.52

1.02

APPRECIATION


- 16 -

REAL

ESTATE

of NVA


- 17 -

REAL

ESTATE

of NVA


98

Homes Sold

SALES

11.25%

Appreciation

$964,103

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$5,958

Avg Concession

6.12%



MAREKETABILITY

100.81%


12

Avg Days on Market


MONTHS OF

INVENTORY

1.18

1.52

1.02

APPRECIATION


- 18 -

REAL

ESTATE

of NVA


- 19 -

REAL

ESTATE

of NVA


242

Homes Sold

SALES

10.19%

Appreciation

$967,278

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$5,610

Avg Concession

14.88%



MAREKETABILITY


MONTHS OF

INVENTORY

99.61%


18

Avg Days on Market

1.57

1.65

2.12


- 21 -

REAL

ESTATE

of NVA

Condominium

Detached

Townhome


Consistently low for the past 3 years.

Highest level in 4 years, recovering from 2023 levels

Highest leve in 5 years.

Sellers Market

Persists


- 22 -

REAL

ESTATE

of NVA


104

Homes Sold

SALES

13.62%

Appreciation

$514,905

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$4,750

Avg Concession

17.31%



MAREKETABILITY


MONTHS OF

INVENTORY

98.33%


20

Avg Days on Market

1.57

1.65

2.12

APPRECIATION


- 23 -

REAL

ESTATE

of NVA


- 24 -

REAL

ESTATE

of NVA


95

Homes Sold

SALES

6.43%

Appreciation

$1,490,271

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,215

Avg Concession

7.37%



MAREKETABILITY

100.11%


16

Avg Days on Market


MONTHS OF

INVENTORY

1.57

1.65

2.12

APPRECIATION


- 25 -

REAL

ESTATE

of NVA


- 26 -

REAL

ESTATE

of NVA


43

Homes Sold

SALES

9.20%

Appreciation

$905,943

Avg Sales Price


NEGOTIABLITY &

COMPETITION

NEGOTIABLITY

$7,269

Avg Concession

25.58%



MAREKETABILITY

102.56%


20

Avg Days on Market


MONTHS OF

INVENTORY

1.57

1.65

2.12

APPRECIATION


- 27 -

REAL

ESTATE

of NVA


- 28 -

REAL

ESTATE

of NVA


37

Homes Sold

SALES

15.00%

Appreciation

$738,037

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$9,125

Avg Concession

10.81%



MAREKETABILITY


MONTHS OF

INVENTORY

102.85%


9

Avg Days on Market

0.60

1.09

1.71


- 3- -

REAL

ESTATE

of NVA

FAIRFAX CITY

Condominium

Detached

Townhome


Lowest level over the past 5 years.

Consistently low over the past 5 years.


Sellers Market

Persists


- 31 -

REAL

ESTATE

of NVA


6

Homes Sold

SALES

-8.19%

Appreciation

$274,667

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$500

Avg Concession

16.67%



MAREKETABILITY

101.55%


4

Avg Days on Market


MONTHS OF

INVENTORY

0.60

1.09

1.71

APPRECIATION


- 32 -

REAL

ESTATE

of NVA


- 33 -

REAL

ESTATE

of NVA


26

Homes Sold

SALES

9.99%

Appreciation

$834,899

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$12,000

Avg Concession

11.54%



MAREKETABILITY

102.98%


11

Avg Days on Market


MONTHS OF

INVENTORY

0.60

1.09

1.71

APPRECIATION


- 34 -

REAL

ESTATE

of NVA


- 35 -

REAL

ESTATE

of NVA


5

Homes Sold

SALES

17.28%

Appreciation

$790,400

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

00.00%



MAREKETABILITY

102.71%


6

Avg Days on Market


MONTHS OF

INVENTORY

0.60

1.09

1.71

APPRECIATION


- 36 -

REAL

ESTATE

of NVA


- 37 -

REAL

ESTATE

of NVA


15

Homes Sold

SALES

10.15%

Appreciation

$1,180,400

Avg Sales Price


NEGOTIABLITY

$20,000

Avg Concession

13.33%



MAREKETABILITY


MONTHS OF

INVENTORY

103.08%


4

Avg Days on Market

1.25

1.00

0.00


- 39 -

REAL

ESTATE

of NVA

FALLS CHURCH CITY

Condominium

Detached

Townhome


On the rise to the level of 2021.


Lowest level over the past 5 years.

Sellers Market

Persists


- 40 -

REAL

ESTATE

of NVA


2

Homes Sold

SALES

-1.97%

Appreciation

$198,000

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0.00%



MAREKETABILITY

99.05%


4

Avg Days on Market


MONTHS OF

INVENTORY

1.25

1.00

0.00

APPRECIATION


- 41 -

REAL

ESTATE

of NVA


- 42 -

REAL

ESTATE

of NVA


10

Homes Sold

SALES

11.30%

Appreciation

$1,473,500

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0.00%



MAREKETABILITY

104.49%


3

Avg Days on Market


MONTHS OF

INVENTORY

1.25

1.00

0.00

APPRECIATION


- 43 -

REAL

ESTATE

of NVA


- 44 -

REAL

ESTATE

of NVA


3

Homes Sold

SALES

3.77%

Appreciation

$858,333

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$20,000

Avg Concession

66.67%



MAREKETABILITY


MONTHS OF

INVENTORY

96.26%


4

Avg Days on Market

1.25

1.00

0.00

APPRECIATION


- 45 -

REAL

ESTATE

of NVA


- 46 -

REAL

ESTATE

of NVA


60

Homes Sold

SALES

2.12%

Appreciation

$489,249

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$2,671

Avg Concession

11.67%



MAREKETABILITY


MONTHS OF

INVENTORY

102.39%


12

Avg Days on Market

0.89

1.20

0.93


- 48 -

REAL

ESTATE

of NVA

MANASSAS CITY

Condominium

Detached

Townhome



Lowest level in the past 3 years.

Lowest level in the past 3 years.

Sellers Market

Persists


- 49 -

REAL

ESTATE

of NVA

Real Broker, LLC


11

Homes Sold

SALES

6.02%

Appreciation

$296,830

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$2,240

Avg Concession

45.45%



MAREKETABILITY

99.43%


30

Avg Days on Market


MONTHS OF

INVENTORY

0.89

1.20

0.93

APPRECIATION


- 50 -

REAL

ESTATE

of NVA


- 51 -

REAL

ESTATE

of NVA


23

Homes Sold

SALES

7.62%

Appreciation

$642,996

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

4.35%



MAREKETABILITY

103.23%


9

Avg Days on Market


MONTHS OF

INVENTORY

0.89

1.20

0.93

APPRECIATION


- 52 -

REAL

ESTATE

of NVA


- 53 -

REAL

ESTATE

of NVA


26

Homes Sold

SALES

5.12%

Appreciation

$434,651

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$7,500

Avg Concession

3.85%



MAREKETABILITY

102.40%


7

Avg Days on Market


MONTHS OF

INVENTORY

0.89

1.20

0.93

APPRECIATION


- 54 -

REAL

ESTATE

of NVA


- 55 -

REAL

ESTATE

of NVA


18

Homes Sold

SALES

4.51%

Appreciation

$486,094

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$8,100

Avg Concession

16.67%



MAREKETABILITY


MONTHS OF

INVENTORY

100.75%


9

Avg Days on Market

0.60

0.67

0.67


- 57 -

REAL

ESTATE

of NVA

MANASSAS PARK CITY

Condominium

Detached

Townhome


Lowest level in since prior to 2023 and consistently low.

Lowest level in 3 years.

Lowest level in 3 years.

Sellers Market

Persists


- 58 -

REAL

ESTATE

of NVA


0

Homes Sold

SALES

-3.76%

Appreciation

$0

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0%



MAREKETABILITY

00.0%


0

Avg Days on Market


MONTHS OF

INVENTORY

0.60

0.67

0.67

APPRECIATION


- 59 -

REAL

ESTATE

of NVA


- 60 -

REAL

ESTATE

of NVA


11

Homes Sold

SALES

1.77%

Appreciation

$510,909

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$8,100

Avg Concession

27.27%



MAREKETABILITY

99.03%


9

Avg Days on Market


MONTHS OF

INVENTORY

0.60

0.67

0.67

APPRECIATION


- 61 -

REAL

ESTATE

of NVA


- 62 -

REAL

ESTATE

of NVA


7

Homes Sold

SALES

8.82%

Appreciation

$447,100

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0.0%



MAREKETABILITY

104.28%


9

Avg Days on Market


MONTHS OF

INVENTORY

0.60

0.67

0.67

APPRECIATION


- 63 -

REAL

ESTATE

of NVA


- 64 -

REAL

ESTATE

of NVA


40

Homes Sold

SALES

2.10%

Appreciation

$421,375

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$9,524

Avg Concession

25.00%



MAREKETABILITY


MONTHS OF

INVENTORY

99.72%


26

Avg Days on Market

0.00

2.43

2.67


- 66 -

REAL

ESTATE

of NVA

FREDERICKSBURG CITY

Condominium

Detached

Townhome





Sellers Market

Persists


- 67 -

REAL

ESTATE

of NVA


3

Homes Sold

SALES

-21.64%

Appreciation

$288,300

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0.00%



MAREKETABILITY

97.75%


55

Avg Days on Market


MONTHS OF

INVENTORY

0.00

2.43

2.67

APPRECIATION


- 68 -

REAL

ESTATE

of NVA


- 69 -

REAL

ESTATE

of NVA


21

Homes Sold

SALES

2.79%

Appreciation

$436,771

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$5,550

Avg Concession

19.05%



MAREKETABILITY

99.86%


19

Avg Days on Market


MONTHS OF

INVENTORY

0.00

2.43

2.67

APPRECIATION


- 70 -

REAL

ESTATE

of NVA


- 71 -

REAL

ESTATE

of NVA


16

Homes Sold

SALES

8.14%

Appreciation

$426,119

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$7,177

Avg Concession

37.50%



MAREKETABILITY

99.79%


31

Avg Days on Market


MONTHS OF

INVENTORY

0.00

2.43

2.67

APPRECIATION


- 72 -

REAL

ESTATE

of NVA


- 73 -

REAL

ESTATE

of NVA


1,467

Homes Sold

SALES

10.64%

Appreciation

$884,909

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$11,223

Avg Concession

10.97%



MAREKETABILITY

101.37%


13

Avg Days on Market


MONTHS OF

INVENTORY

1.23

1.38

0.84


- 76 -

REAL

ESTATE

of NVA

FAIRFAX COUNTY

Condominium

Detached

Townhome


On the rise and highest level in 3 years.

On the rise and highest level in 4 years.

On the rise to a highest level in 5 years.

Sellers Market

Persists


- 77 -

REAL

ESTATE

of NVA


267

Homes Sold

SALES

6.10%

Appreciation

$383,762

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$3,326

Avg Concession

12.36%



MAREKETABILITY

99.66%


15

Avg Days on Market


MONTHS OF

INVENTORY

1.23

1.38

0.84

APPRECIATION


- 78 -

REAL

ESTATE

of NVA


- 79 -

REAL

ESTATE

of NVA


- 80 -

REAL

ESTATE

of NVA


789

Homes Sold

SALES

11.80%

Appreciation

$1,173,443

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$13,920

Avg Concession

9.76%



MAREKETABILITY

101.44%


14

Avg Days on Market


MONTHS OF

INVENTORY

1.23

1.38

0.84

APPRECIATION


- 81 -

REAL

ESTATE

of NVA


- 82 -

REAL

ESTATE

of NVA


- 83 -

REAL

ESTATE

of NVA


- 84 -

REAL

ESTATE

of NVA


411

Homes Sold

SALES

9.17%

Appreciation

$656,570

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$12,260

Avg Concession

12.41%



MAREKETABILITY

101.67%


10

Avg Days on Market


MONTHS OF

INVENTORY

1.23

1.38

0.84

APPRECIATION


- 85 -

REAL

ESTATE

of NVA


- 86 -

REAL

ESTATE

of NVA


- 87 -

REAL

ESTATE

of NVA


610

Homes Sold

SALES

6.54%

Appreciation

$828,050

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$10,601

Avg Concession

13.44%



MAREKETABILITY


MONTHS OF

INVENTORY

100.80%


13

Avg Days on Market

1.63

1.61

0.88


- 89 -

REAL

ESTATE

of NVA

LOUDOUN COUNTY

Condominium

Detached

Townhome


Consistent rise and highest level in 5 years.


Highest level over the past 5 years.

Sellers Market

Persists


- 90 -

REAL

ESTATE

of NVA

Real Broker, LLC


69

Homes Sold

SALES

7.47%

Appreciation

$404,741

Avg Sales Price


NEGOTIABLITY &

NEGOTIABLITY

COMPETITION

$6,476

Avg Concession

5.80%



MAREKETABILITY

99.26%


15

Avg Days on Market


MONTHS OF

INVENTORY

1.63

1.61

0.88

APPRECIATION


- 91 -

REAL

ESTATE

of NVA


- 92 -

REAL

ESTATE

of NVA


- 93 -

REAL

ESTATE

of NVA


284

Homes Sold

SALES

7.65%

Appreciation

$1,066,554

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$11,466

Avg Concession

14.46%



MAREKETABILITY

100.96%


10

Avg Days on Market


MONTHS OF

INVENTORY

1.63

1.61

0.88

APPRECIATION


- 94 -

REAL

ESTATE

of NVA


- 95 -

REAL

ESTATE

of NVA


- 96 -

REAL

ESTATE

of NVA


257

Homes Sold

SALES

7.66%

Appreciation

$678,141

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,447

Avg Concession

19.46%



MAREKETABILITY

100.78%


16

Avg Days on Market


MONTHS OF

INVENTORY

1.63

1.61

0.88

APPRECIATION


- 97 -

REAL

ESTATE

of NVA


- 98 -

REAL

ESTATE

of NVA


- 99 -

REAL

ESTATE

of NVA


658

Homes Sold

SALES

9.55%

Appreciation

$650,152

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$9,654

Avg Concession

15.96%



MAREKETABILITY

101.25%


10

Avg Days on Market


MONTHS OF

INVENTORY

0.84

1.32

0.96


- 101 -

REAL

ESTATE

of NVA

PRINCE WILLIAM COUNTY

Condominium

Detached

Townhome


Slow rise for the past 3 years.

Rising to levels of 2 years ago, 2022.

Rising to levels of 2 years ago, 2022.

Sellers Market

Persists


- 102 -

REAL

ESTATE

of NVA


32

Homes Sold

SALES

5.64%

Appreciation

$323,395

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$8,571

Avg Concession

21.88%



MAREKETABILITY

99.62%


12

Avg Days on Market


MONTHS OF

INVENTORY

0.84

1.32

0.96

APPRECIATION


- 103 -

REAL

ESTATE

of NVA


- 104 -

REAL

ESTATE

of NVA


- 105 -

REAL

ESTATE

of NVA


389

Homes Sold

SALES

9.97%

Appreciation

$754,524

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$9,354

Avg Concession

12.60%



MAREKETABILITY

101.33%


11

Avg Days on Market


MONTHS OF

INVENTORY

0.84

1.32

0.96

APPRECIATION


- 106 -

REAL

ESTATE

of NVA


- 107 -

REAL

ESTATE

of NVA


- 108 -

REAL

ESTATE

of NVA


237

Homes Sold

SALES

8.52%

Appreciation

$522,960

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,109

Avg Concession

20.68%



MAREKETABILITY

101.19%


8

Avg Days on Market


MONTHS OF

INVENTORY

0.84

1.32

0.96

APPRECIATION


- 109 -

REAL

ESTATE

of NVA


-1109 -

REAL

ESTATE

of NVA


- 111 -

REAL

ESTATE

of NVA


76

Homes Sold

SALES

16.81%

Appreciation

$701,203

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$9,483

Avg Concession

23.68%



MAREKETABILITY

96.52%


19

Avg Days on Market


MONTHS OF

INVENTORY

0.67

2.14

0.50


- 113 -

REAL

ESTATE

of NVA

FAUQUIER COUNTY

Condominium

Detached

Townhome


Consistently low levels for the past year.

On the rise to 2023 levels.

Fell to the lowest level in the last 2 years.

Sellers Market

Persists


- 114 -

REAL

ESTATE

of NVA


1

Homes Sold

SALES

-9.69%

Appreciation

$225,000

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0%



MAREKETABILITY

99.25%


19

Avg Days on Market


MONTHS OF

INVENTORY

0.67

2.14

0.50

APPRECIATION


- 115 -

REAL

ESTATE

of NVA


- 116 -

REAL

ESTATE

of NVA


- 117 -

REAL

ESTATE

of NVA


105

Homes Sold

SALES

16.01%

Appreciation

$739,041

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,889

Avg Concession

20.00%



MAREKETABILITY

98.33%


21

Avg Days on Market


MONTHS OF

INVENTORY

0.67

2.14

0.50

APPRECIATION


- 118 -

REAL

ESTATE

of NVA


- 119 -

REAL

ESTATE

of NVA


- 120 -

REAL

ESTATE

of NVA


9

Homes Sold

SALES

11.87%

Appreciation

$412,222

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$7,500

Avg Concession

33.33%



MAREKETABILITY

101.88%


6

Avg Days on Market


MONTHS OF

INVENTORY

0.67

2.14

0.50

APPRECIATION


- 121 -

REAL

ESTATE

of NVA


- 122 -

REAL

ESTATE

of NVA


- 123 -

REAL

ESTATE

of NVA


225

Homes Sold

SALES

5.31%

Appreciation

$561,975

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$9,062

Avg Concession

24.00%



MAREKETABILITY


MONTHS OF

INVENTORY

99.68%


29

Avg Days on Market

1.43

1.63

0.72


- 125 -

REAL

ESTATE

of NVA

STAFFORD COUNTY

Condominium

Detached

Townhome


Sellers Market

Persists


Trending up and at the highest level over the past 2 years.

Slowly trending up and at the highest level over the past 2 years.


- 126 -

REAL

ESTATE

of NVA


0

Homes Sold

SALES

5.31%

Appreciation

$0

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$0

Avg Concession

0%



MAREKETABILITY

0


0

Avg Days on Market


MONTHS OF

INVENTORY

1.43

1.63

0.72

APPRECIATION


- 127 -

REAL

ESTATE

of NVA


- 128 -

REAL

ESTATE

of NVA


196

Homes Sold

SALES

6.00%

Appreciation

$583,277

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$8,929

Avg Concession

23.98%



MAREKETABILITY

99.49%


32

Avg Days on Market


MONTHS OF

INVENTORY

1.43

1.63

0.72

APPRECIATION


- 129 -

REAL

ESTATE

of NVA


- 130 -

REAL

ESTATE

of NVA


- 131 -

REAL

ESTATE

of NVA


29

Homes Sold

SALES

5.04%

Appreciation

$418,009

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$9,950

Avg Concession

24.14%



MAREKETABILITY

101.55%


5

Avg Days on Market


MONTHS OF

INVENTORY

1.43

1.63

0.72

APPRECIATION


- 132 -

REAL

ESTATE

of NVA


- 133 -

REAL

ESTATE

of NVA


- 134 -

REAL

ESTATE

of NVA


207

Homes Sold

SALES

6.63%

Appreciation

$523,964

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$10,721

Avg Concession

36.23%



MAREKETABILITY


MONTHS OF

INVENTORY

99.70%


19

Avg Days on Market

0.00

2.26

1.50


- 136 -

REAL

ESTATE

of NVA

SPOTSYLVANIA COUNTY

Condominium

Detached

Townhome


Not a significant condominium market.


Highest level over the past 4 years.

Sellers Market

Persists


- 137 -

REAL

ESTATE

of NVA


179

Homes Sold

SALES

6.19%

Appreciation

$549,768

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$11,276

Avg Concession

37.43%



MAREKETABILITY

99.57%


19

Avg Days on Market


MONTHS OF

INVENTORY

0.00

2.26

1.50

APPRECIATION


- 138 -

REAL

ESTATE

of NVA


- 139 -

REAL

ESTATE

of NVA


- 140 -

REAL

ESTATE

of NVA


27

Homes Sold

SALES

7.01%

Appreciation

$359,181

Avg Sales Price


NEGOTIABLITY &

COMPETITION

$6,073

Avg Concession

29.63%



MAREKETABILITY

101.09%


20

Avg Days on Market


MONTHS OF

INVENTORY

0.00

2.26

1.50

APPRECIATION


- 141 -

REAL

ESTATE

of NVA


- 142 -

REAL

ESTATE

of NVA


- 143 -

REAL

ESTATE

of NVA

REAL

ESTATE

of NVA

1765 Greensboro Station Place | Suite 900 | McLean, VA 22102 | 703.867.3436

2024-06 - Real Estate of NVA - Quarterly Market Analysis

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