Updated

Updated · PR Newswire · Jun 17

Northern Virginia Home Sales Jump 11% to 1,958 in May as Median Price Hits $812,012

Updated

Updated · PR Newswire · Jun 17

Northern Virginia Home Sales Jump 11% to 1,958 in May as Median Price Hits $812,012

1 articles · Updated · PR Newswire · Jun 17

Northern Virginia closed 1,958 home sales in May, up 11.0% from a year earlier, with the median sold price rising 2.9% to $812,012.
Buyer demand stayed stronger than the national market as limited supply kept competition firm: homes sold in 15 days on average locally versus 29 days nationally.
Inventory showed only modest relief, with active listings up 3.7% to 2,733 and months of supply at 1.93, leaving the market solidly seller-favored.
Nationally, existing-home sales rose 3.2% to 4.17 million and the median price gained 1.3% to $429,300, underscoring Northern Virginia's sharper growth and tighter conditions.

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As buyers flee high costs, is Northern Virginia's housing boom creating a new affordability crisis in its own suburbs?

How long can Northern Virginia's property market defy the economic decline of its neighbor, Washington D.C.?

With even police and teachers priced out, can proposed policies truly fix Northern Virginia's severe housing shortage?

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