Northern Virginia opened 2024 with home sales relatively flat from the same period a year before, according to figures from the Virginia Association of Realtors.
A total of 3,718 properties went to closing in January and February in the Northern Virginia region, according to figures reported March 26 by the organization. That’s essentially unchanged (down 0.8%) from the 3,749 transactions recorded for the first two months of 2023.
“Northern Virginia,” Virginia Realtors’ parlance, means the inner and outer suburbs of the District of Columbia and land west to the West Virginia line and south to the northern suburbs of Fredericksburg. It is one of eight broad geographic areas that Virginia Realtors carves the Old Dominion into.
While Virginia’s overall home sales were higher year-over-year in the January-to-February period, they were down in three reporting areas. Besides Northern Virginia, a modest (0.6%) decline was reported in central Virginia, including the Richmond area, while a larger (3%) drop was recorded in Southwest Virginia. All other areas were higher, including two (Eastern Virginia and the Shenandoah Valley) rising by double digits.
The median sales price of homes that went to closing in January-February was $376,000 statewide, up from $360,000 a year before. In Northern Virginia, it was $594,995, up from $550,000.
Figures represent most, but not all, homes on the market. All February 2024 figures are preliminary and are subject to revision.
