Median home-sales prices across Northern Virginia for the first 11 months of the year rose at a slightly higher percentage than the statewide result, according to new data.
The median sales price of properties that went to closing across Northern Virginia for the January-through-November period was $600,000, according to figures reported by the Virginia Realtors trade organization.
That’s up 4.2 percent from the $576,000 recorded for the same period of 2022, the organization said. It compares to a 4-percent increase (from $375,000 to $400,000) statewide.
“Northern Virginia,” in the parlance of the trade association, includes both the inner and outer suburbs of Washington, D.C., plus areas south to the northern suburbs of Fredericksburg and west to the West Virginia line. It inevitably has the priciest median sales price among the eight broad geographic areas of the commonwealth in the Virginia Realtors monthly data.
Of those eight areas, only Southside Virginia had a smaller year-over-year appreciation rate, at 2.9 percent. Growth rates in other areas included 8.3 percent in the Shenandoah Valley; 7.3 percent in West-Central Virginia; 6.4 percent in Hampton Roads; 5.4 percent in Southwest Virginia; 5.2 percent in Central Virginia; and 4.4 percent in Eastern Virginia.
While prices were up, total January-to-November sales were down by double digits in all eight regions, with Northern Virginia’s drop of 24 percent (to 30,072) the largest dip.
Statewide, the January-to-November sales total of 92.719 was down 21.3 percent.
Figures represent most, but not all, homes on the market. All figures are preliminary and are subject to revision.
Year-end sales and prices are expected to be released the third week of January.
