Weekly Real Estate News
In brief: Northern Virginia buyers have more homes to choose from, but the extra inventory has not produced more sales or lower prices. The September figures show a market where financing costs and affordability still outweigh greater selection.
Active home listings across Northern Virginia jumped 30.7% in September from a year earlier, while closed sales fell 7.5%, according to figures released October 16 by the Northern Virginia Association of Realtors. The median sale price nevertheless climbed 4.2% to $744,950.
The contrast is especially pronounced in attached housing. Condo and townhome inventory grew 49.7% year over year, far exceeding the 5.7% increase in detached-home listings. That gives buyers more choices in one segment without necessarily making single-family homes easier to find.
More listings, fewer transactions
The association counted 3,477 active listings and 1,250 closed transactions during September. Sales volume was approximately $1.11 billion, down 8.7%. Homes spent an average of 28 days on the market, unchanged from September 2025.
Months of supply increased to 2.5, a substantial improvement for shoppers but still below the level commonly associated with a balanced market. A rise in available homes should not be mistaken for a glut: location, home type and monthly payment remain decisive.
The figures cover Fairfax and Arlington counties and several neighboring cities and towns. The report also includes separate results for Loudoun County, where sales fell 17.8% to 338 and active listings rose 34.1%. Loudoun’s median sale price edged up to $758,500.
What the split means for the fall market
Buyers may gain leverage where listings are competing directly, particularly among condos and townhomes. But a higher median price alongside fewer transactions shows that demand is not translating neatly into affordability relief. The changing mix of homes sold can also affect median prices, so the aggregate increase does not prove every property type appreciated by 4.2%.
For agents and lenders, the immediate question is whether more sellers will adjust expectations as the fall season progresses. Freddie Mac’s latest mortgage-rate survey shows borrowing costs remain elevated, a headwind even in markets with improving inventory.
