I’m doing things a little differently this month because I’ve never seen market stats like these before. I decided to color code them red for stats that went down, green for stats that went up and black for stats that didn’t change from last year and I’m still not sure I understand some of them.
Clearly the markets with the highest demand and prices over the last couple of years are seeing the largest corrections – Alexandria, Arlington, Falls Church, Washington DC have just become out of reach for many buyers and so demand has softened leading to lower prices and higher inventory and days on the market.
Sales volume is down across the entire region but prices are not, outside of the ones mentioned above, which is a testament to low inventory (who really wants to give up an interest rate in the 3%s?) Days on market are also longer, again as a result of low inventory. The puzzling part is that active inventory is up in most markets – my only explanation is sellers with realistic expectations in this market are selling quicky, while home with sellers with unrealistic expectations are just sitting on the market.
What are your thoughts? Send them to me here, or as always, call or text me, 703.966.1075.
| Median Price | Change since last year % | Sales | Change since last year | Active Inventory | Change since last year | Days On Market | Change since last year | |
| Alexandria VA | $525,000 | -15% | 128 | -51% | 246 | -7% | 25 | -4% |
| Arlington County VA | $575,000 | -21% | 169 | -43% | 342 | 16% | 35 | 13% |
| Clarke County VA | $415,000 | -7% | 12 | -59% | 30 | 58% | 24 | -25% |
| Fairfax City VA | $664,900 | -2% | 11 | -56% | 38 | 6% | 19 | -27% |
| Fairfax County VA | $625,082 | 5% | 856 | -46% | 1252 | 11% | 25 | 9% |
| Falls Church City VA | $727,010 | -14% | 7 | -46% | 8 | -33% | 40 | 100% |
| Fauquier County VA | $465,000 | -13% | 49 | -46% | 155 | 42% | 22 | 0% |
| Federick County VA | $387,450 | 11% | 96 | -41% | 239 | 25% | 39 | 129% |
| King George County VA | $455,035 | 12% | 37 | 9% | 74 | 23% | 35 | 59% |
| Loudoun County VA | $647,500 | 6% | 327 | -50% | 507 | 70% | 28 | 87% |
| Manassass City VA | $428,700 | 15% | 32 | -48% | 50 | 67% | 25 | 25% |
| Manassass Park City VA | $390,000 | 11% | 7 | -63% | 26 | 136% | 27 | 29% |
| Prince William County VA | $495,000 | 8% | 377 | -50% | 568 | 50% | 29 | 71% |
| Stafford County VA | $495,000 | 9% | 152 | -46% | 313 | 50% | 32 | 100% |
| Warren County VA | $335,500 | 10% | 46 | -28% | 112 | 10% | 26 | -7% |
| Berkeley County WV | $273,000 | 3% | 157 | -36% | 407 | 33% | 27 | 93% |
| Jefferson County WV | $338,000 | -2% | 95 | -14% | 188 | 71% | 45 | 88% |
| Morgan County WV | $267,000 | 6% | 30 | -19% | 65 | 35% | 38 | 36% |
| Frederick County MD | $443,275 | 7% | 301 | -40% | 431 | 6% | 21 | 17% |
| Montgomery County MD | $540,000 | 2% | 769 | -39% | 1020 | 4% | 26 | 18% |
| Washington County MD | $275,000 | 6% | 126 | -34% | 242 | 0% | 29 | 7% |
| Baltimore County MD | $304,900 | 3% | 671 | -38% | 1030 | 0% | 23 | 15% |
| Baltimore City MD | $211,000 | 4% | 587 | -39% | 1885 | -5% | 34 | 6% |
| Washington DC | $650,000 | -10% | 505 | -47% | 1959 | -3% | 35 | 21% |
If you’d like to check out what’s available in your area, here’s my search page!
Oh, and Happy Holidays for those who celebrate and all best wishes for 2023!
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