The Northern Virginia real estate market is still strong but showing signs of softening. Rising mortgage rates and a 60% increase in inventory mean buyers now have more choices. Homes are taking longer to sell, price growth has slowed, and sale prices are often below asking. Despite these shifts, inventory remains historically low—less than 1.5 months’ supply—so it’s still a seller’s market, but only for those who price wisely in this changing environment.
Loudoun County remains the strongest real estate market in the DC Metro area, but signs of softening are clear. Despite a rare increase in contract activity, inventory is up 57% from last year, giving buyers more options. Homes are taking longer to sell, price appreciation has slowed, and sale prices are often below list. Still, with just 1.5 months of inventory—30% below pre-COVID levels—it remains a seller’s market. However, success now depends on sellers adapting to the shifting market and pricing realistically.
The Virginia Countryside real estate market remains strong, but clear signs of softening have emerged. Inventory is up nearly 60% from last year, giving buyers more options. Homes are taking longer to sell, price growth has slowed, and sale prices are often below asking. Despite these shifts, with less than 2 months of inventory—still 30% below pre-COVID levels—it remains a seller’s market. Sellers who price appropriately for today’s conditions will have the advantage as the market continues to gradually shift.
Washington, DC’s real estate market has reached a rare balance across all property types—welcome news for buyers, and a signal for sellers to adjust. After years of a strong seller’s market, rising mortgage rates and a 20% increase in inventory (now above pre-COVID levels) have shifted the dynamic. Homes are taking longer to sell, price growth has slowed—especially for condos—and nearly half of all contracts involve price reductions. Despite economic uncertainty, DC’s market remains stable and now offers buyers more room to negotiate than in the surrounding suburbs.
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