2023 is wrapping up on a nice note, while inventory still remains tight, sales prices have increased and mortgage interest rates are starting to move in a downward trend.

Overall, looking at November 2023 compared to November 2022, the Northern Virginia region saw inventory down 9.77% while the average sales price is up 7.75% and the median sales price is up 6.29%.

Looking closer at each county the numbers are trending the same when looking at this November compared to last November:

• Fairfax County is up 6% for average sales price ($728,000 in 2022 to $772,000 in 2023)
• Arlington County is up 27% ($704,000 in 2022 to $899,000 in 2023)
• Alexandria City is up 6.6% ($631,000 in 2022 to $673,000 in 2023)
• Loudoun is up 7.3% ($760,000 in 2022 to $816,000 in 2023)
• Prince William (including Manassas Park and Manassas City) is up 3.15% ($538,000 in 2022 to $555,000 in 2023)