The October Real Estate market remained interesting due to the effects of higher interest rates, with some unusual combinations of trends. Specifically sales were lower and days on the market were higher than last October in virtually all markets BUT, and it is a big but, prices are still generally higher than this time last year. This is in contrast to some markets that saw higher price appreciation over the past 3 years which have started to see some downward price pressure. We are still short on inventory in a significant number of areas, still partly due, in my opinion, due to sellers not wanting to lose there low interest rate mortgages. Check out the numbers for your area below – and if you don’t see them, reach out to me and I’ll be happy to add them. I’m happy to walk through specific areas with you and discuss your market as well!
| Median Price | Change Since Last Year | Sales | Change Since Last Year | Active Inventory | Change Since Last Year | Days On Market | Change Since Last Year | |
| Alexandria VA | $699,000 | 14% | 159 | -35% | 261 | -28% | 25 | 25% |
| Arlington County VA | $650,000 | -6% | 184 | -34% | 408 | -25% | 33 | 6% |
| Clarke County VA | $513,000 | 23% | 15 | -42% | 33 | 27% | 30 | 20% |
| Fairfax City VA | $772,500 | 18% | 16 | -50% | 39 | -13% | 20 | -9% |
| Fairfax County VA | $640,000 | 3% | 912 | -40% | 1525 | -9% | 26 | 18% |
| Falls Church City VA | $925,000 | 5% | 13 | -24% | 11 | -48% | 10 | -58% |
| Fauquier County VA | $475,000 | -3% | 76 | -37% | 156 | 16% | 25 | 32% |
| Federick County VA | $367,750 | 8% | 98 | -36% | 268 | 23% | 32 | 100% |
| King George County VA | $425,000 | 18% | 31 | -11% | 82 | 6% | 26 | 8% |
| Loudoun County VA | $655,000 | 7% | 409 | -38% | 635 | 40% | 25 | 79% |
| Manassass City VA | $450,000 | 18% | 37 | -48% | 57 | 36% | 28 | 115% |
| Manassass Park City VA | $370,250 | 10% | 14 | -36% | 25 | 67% | 32 | 113% |
| Prince William County VA | $482,495 | 5% | 464 | -37% | 730 | 22% | 24 | 60% |
| Stafford County VA | $480,000 | 4% | 196 | -34% | 333 | 31% | 26 | 53% |
| Warren County VA | $320,000 | -2% | 45 | -37% | 102 | -9% | 26 | 19% |
| Berkeley County WV | $272,230 | 2% | 201 | -24% | 437 | 56% | 27 | 93% |
| Jefferson County WV | $402,495 | 9% | 64 | -51% | 213 | 99% | 39 | 77% |
| Morgan County WV | $229,500 | 4% | 28 | -13% | 67 | 37% | 28 | 17% |
| Frederick County MD | $455,000 | 11% | 316 | -41% | 472 | -4% | 21 | 40% |
| Montgomery County MD | $530,000 | -2% | 823 | -38% | 1150 | -22% | 23 | 28% |
| Washington County MD | $277,000 | 4% | 134 | -34% | 280 | 10% | 30 | 7% |
| Baltimore County MD | $324,999 | 9% | 759 | -32% | 1076 | -9% | 23 | 21% |
| Baltimore City MD | $200,000 | 0% | 651 | -31% | 1881 | -15% | 31 | 15% |
| Washington DC | $650,000 | -7% | 574 | -31% | 2160 | -6% | 32 | 19% |
To see the trend in our area, please check out my September analysis.
Questions? I’m only a call away at 703-966-1075!
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