More homes sold in the Northern Virginia region in November 2024 than November 2023, and the average price of those homes increased as well, according to a new report from the Northern Virginia Association of Realtors.
This November, a total of 1,168 homes sold in NoVA, a 10.8 percent increase from last year. The median home price was $699,900, a 6.6 percent increase from November 2023.
Compared to October 2024, there were slightly fewer homes sold at a slightly lower cost. In October, there were 1,327 homes sold with a median price of $715,000.
Homes stayed on the market an average of 22 days this November, up 10 percent from last year. The housing inventory stayed the same, at 1,407 homes. There were 817 new listings this month.
Fairfax County saw the biggest jump in home sales, with a 16.8 percent increase and a total of 857 homes sold. The median cost was $705,000. Alexandria sold 136 homes, an 8.8 percent increase, with a median cost of $625,000.
Still, some localities saw lowered home sales. Falls Church experienced the sharpest drop, with only eight homes sold this November — that’s a 33.3 percent decrease from last year. Median prices in the “Little City” are up, though, with a median of $1,102,500, a 41.4 percent increase.
Fairfax City and Arlington also saw lower home sales, with 13.3 percent and 8.3 percent drops, respectively. Arlington was the only locality with a decrease in home prices, with a median of $695,000, down 2.5 percent from last year.
Feature image, stock.adobe.com
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