The ongoing upward drift in local real-estate prices is encouraging sellers to aim higher compared to a year ago.
All four major Northern Virginia jurisdictions covered by the Bright MLS multiple-listing service saw year-over-year increases in weekly median listing prices for the week ending Jan. 28.
The increases ranged from relatively minuscule to more substantial:
• The median listing price in Alexandria of $762,350 was up from $649,900 during the same week in 2023.
• The median listing price in Fairfax County ($749,800) was up from $696,989.
• The median listing price in Loudoun County ($728,104) was up from $692,500.
• The median listing price in Arlington ($700,000) was up from $699,900.
Using median prices as opposed to average tends to even out peaks and valleys that can occur from week to week, providing a better snapshot of sales conditions.
(Bright MLS does not incorporate Prince William County into is coverage; and while it does include the cities of Fairfax and Falls Church, the relatively small number of home transactions there can make for wider swings in data.)
Figures represent most, but not all, homes on the market. Most recent figures are preliminary and are subject to revision.
For more data, see the Website at brightmls.com/marketupdate.
