Are  Homes in Northern Virginia Still Affordable?

 Real Estate Stats February 2018

The average sold price of homes in all of Northern Virginia is rising, but not at a crazy pace. Looking at ALL house Types and Counties in the area as a whole the average price for a home is $496,250.based on February 2018. The price YTD however is $506,026.  Northern Virginia is a large area and the closer a county or city is located to Washington D.C  the higher the price. Also the area is very large and diverse in relation to age, jobs amongst other factors.       The chart below segments house type:

There are some price discrepancies in areas that encompass the entire Northern Virginia Region. The most expensive area averages $744,515 for a home, while the least expensive area averages $283,116. These numbers get skewed since this data is not comparing apples to apples. For example an area with mostly single family homes is going to be higher than an area with a ton of condos. ( most expensive area is Falls Church and the least is Manassas City). The chart above breaks down the the categories into 3 segments: Detached (single family) attached (fee simple) & condos.

The included counties considered in these stats of the Northern Virginia Region :

Fairfax            Loudoun         Fauquier      Prince Willam      Arlington

Cities:

Falls Church   Arlington     Alexandria    Manassas Park      Manassas City

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