October 2024 Home Sales

Northern Virginia October 2024 Home Sales:

The month-end stats are out and Terry’s back with the latest on the current real estate market. Historically, the end of the year has been a great time to buy a home—but is that true this year?And what should sellers know right now? Watch as Terry breaks down what buyers and sellers need to know in today’s market! And don't forget to take a look at the latest home sales stats for Northern Virginia and our local markets at the bottom of the page.

See all the numbers below plus links to statistics for some of our hyper local markets!

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• 2,343 homes went under contract in the region. This is up 15% from the same time period in 2023.

• 53% of the homes that went to settlement in October 2024, sold in 10 days or less from when they hit the market.

• Average sold price was $785,456 (up 10% from the same time period in 2023).

• 2,191 homes came on the market. That’s up 0.2% from October 2023.

• Homes that sold (closed) averaged 21 days on market, 4 days slower than October 2023.

• There is currently a 1.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Northern Virginia – and 3,018 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. The number of homes coming on the market and the number going under contract decreased from last month. Overall inventory was down from September, but up 6% year-over-year. Average sold price decreased just slightly but was up from this time last year.