Graphs of Northern Virginia Real Estate Numbers

The Northern Virginia area is a wealthy suburban area located just across the Potomac river from Washington, DC. The statistics for the following graphs include "Fairfax and Arlington, and the cities of Alexandria, Falls Church, Fairfax, and the towns of Vienna, Herndon and Clifton." The residential real estate market has declined dramatically after a multi year boom period.


Active listings (inventory) are exploding in Northern Virginia as speculators and others want to sell properties. [click on image for larger version] "Inventory spiked last year with more than 7,000 active listings. For nine consecutive months in 2005, inventory in Northern Virginia increased compared to the previous year. The year ended with 5,659 active listings, 244 percent more homes on the market compared to December 2004. (The Connection, Feb 16)"



Meanwhile the number of sales per month continues to decline compared to last year's monthly sales.



Finally, the average price has peaked. Some would argue it is a seasonal effect. However, the number of active listings in January 2006 was 392% greater then January 2005. At the very same time the number of housing units sold in January 2006 was 29.6% less then in January 2005. Housing affordability remains at an all time low in the area. There will be no spring buying frenzy. Expect continued price declines in the Northern Virginia housing market.

A huge thanks to Eric in DC who compiled the numbers from the Northern Virginia Association of Realtors website.