Northern Virginia’s year-to-date median home-sales price has risen at a faster rate than the state as a whole, according to new data.
For the first seven months of the year, the median sales price across Northern Virginia stood at $642,500, an increase of 7.1 percent from $600,000 during the same period a year before.
That’s according to the Virginia Realtors trade group, which also reported that the statewide median sales price of $410,000 for the seven-month stretch was up 5.4 percent from 2023.
Of the eight broad geographic areas into which Virginia is cut by the real-estate group, Northern Virginia had the highest median sales price (second was the Richmond area at $400,000) and ranked third in year-over-year appreciation behind Southside Virginia, up 8.8 percent to $185,000, and Eastern Virginia, up 7.6 percent to $355,000.
All eight areas posted year-over-year increases in median sales prices, and also were in positive territory for year-to-date transactions.
Figures represent most, but not all, homes on the market. All July 2024 figures are preliminary and subject to revision.
