Prices Down Slightly in September; Arlington Down 25% Since July
September Prices Fell 1.7% from August: The median home price in Northern Virginia was down slightly (-1.7%) in September after hitting a new high of $660,000 in May. Since June, prices have declined four consecutive months: June (-3%), July (-3.3%), August (-3.9%), and September (-1.7%). All major sub-markets in Northern Virginia declined in price between 1 to 3% in September, except Arlington which declined by another staggering

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Home Prices Trend Down in August
August Prices Fell 3.9% from July: The median home price in Northern Virginia softened by another 4% in August after hitting a new high of $660,000 in May. All major sub-markets in Northern Virginia declined in price between 2 to 4%, except Arlington which declined 13%. It should be noted Arlington can experience unusual price volatility given the instance of tear-downs and new construction. New construction can skew numbers at times.

Even with the recent softening in prices...

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Home Prices Trend Down in July
July Prices Fell 3.3% from June: The median home price in Northern Virginia softened by another 3% in July after hitting a new high of $660,000 in May. All major sub-markets in Northern Virginia declined in price between 1 to 5%, except Arlington which bucked the trend hitting a new price high of $738,000.

Even with the recent softening in prices in June (3%) and July (3.3%), it's important to note prices are still holding up as the ma...

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Are Home Prices Falling in Fairfax?

June Prices Fall 3% from May: The median home price in Northern Virginia fell for the first time in 2022. After hitting a new high last month of $660,000, the median price in June fell $20,000 (3%) to $640,000. Prices in all major Northern Virginia sub-markets declined together, except for Prince William which increased 1.6% ($9,000) to another new price...

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Home Prices Trend Up in May
May Prices Increased 2.3% from April: The median home price in Northern Virginia continued to trend up hitting a new high of $660,000, adding another $15,000 to last month's $645,000 median price. All major sub-markets in Northern Virginia increased in price between 2 to 3% with Arlington leading at 6%. Loudoun was the only sub-market declining in May (-3%).

The unrelenting increase in interest rates is impacting bu...

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