Northern Virginia Market Update for January 2022

by Tracey Barrett

“2022 Housing Market Starts Strong for Sellers in Northern Virginia Buyers Vie for Limited Options, Pushing Prices Higher” per the February 14, 2022 press release from the Northern Virginia Association of Realtors, Fairfax, Va. – “Our Northern Virginia housing market is still solidly in uncharted territory, which makes it challenging to make year-over-year comparisons,” said Ryan McLaughlin, CEO of the Northern Virginia Association of Realtors® (NVAR). “What we can state with certainty is that many sellers who are ready to make a move have a real opportunity to tap into substantial equity when they sell in this market.”

The Northern Virginia Association of Realtors (NVAR), in conjunction with the George Mason University Center for Regional (GMU-CRA) pull together the year over year statistics each month. The data for January were:

• NVAR Region
  • Average sales price +7.5% at $702,465
  • Median sale price +3.2% $571,000
  • Home Sales (number of properties sold) -14.3% 1,172 properties
• Fairfax County
  • Average sales price +9.6% at $710,626
  • Median sale price +4.6% $575,000
  • Home Sales -19.0% 817 properties
• Fairfax City
  • Average sales price +.1% $590,523
  • Median sale price -4.5% $585,000
  • Home Sales -12.5% 21 properties
• Falls Church
  • Average sales price +21.4% $1,009,000
  • Median sale price +19.5% $980,000
  • Home Sales -55.6% 4 properties
• Arlington
  • Average sales price +6.2% at $757,534
  • Median sale price +3.3% at $620,000
  • Home Sales +13.5% at 177 properties
• Alexandria
  • Average sales price -4.2% at $602,585
  • Median sale price +1.0% at $495,000
  • Home Sales -10.5% at 153 properties

2022 NVAR Region Market Forecast (recorded by NVAR and GMU-CRA 16Dec2021) – 30 min video

The Northern Virginia Association of Realtors® (NVAR), in conjunction with the Center for Regional Analysis at George Mason University (GMU-CRA), issues a consensus forecast for the NVAR region’s housing market. NVAR CEO Ryan McLaughlin and 2021 NVAR President Derrick Swaak were joined by Northern Virginia Chair and University Professor Director, Dr. Terry Clower of the GMU Center for Regional Analysis.