Northern Virginia Housing Supply Stays Below National Average
Northern Virginia closed 1,324 sales in August, yet its inventory remains less than half the national level.
Key points
- Northern Virginia closed 1,324 sales in August, an 8.0% decrease from the previous year.
- The regional median price rose 2.0% to $765,000, outpacing the national 1.6% gain.
- Months of supply in the region were 2.08, less than half the national average of 4.9.
Northern Virginia recorded 1,324 closed home sales in August, a drop of 8.0% from the same month last year. This decline was steeper than the national average, where sales fell by only 1.2% to 3.98 million units. The local market is moving in the same direction as the broader economy but at a faster pace of contraction.
Prices rise despite falling sales volume
The median sold price in the region reached $765,000, up 2.0% from August 2025. This growth outpaced the national median of $429,100, which increased by 1.6% over the same period. Home values continue to climb in both areas even as transaction activity slows down.
Inventory growth misses single-family homes
Active listings in Northern Virginia hit 2,932, an increase of 18.5% year over year. This growth rate was more than three times higher than the national inventory rise of 5.9%. However, NVAR data shows this gain came from condos and townhomes, while detached home supply actually declined.
Regional supply remains tightest in nation
Months of supply in the region stood at 2.08, up 14.7% from last year. The national figure was 4.9 months, meaning local buyers face less than half the available housing stock. This structural tightness keeps the Northern Virginia market distinct from the rest of the country.
