A slower summer for Northern Virginia housing sales

WASHINGTON — July is generally a slow month for residential real estate sales, but last month was particularly slow in Northern Virginia.

Long & Foster Real Estate says closed sales in Arlington County were down 13 percent from July 2015. But Northern Virginia’s most expensive county got a little more so last month, with the median price in Arlington up 1 percent from a year ago at $625,950.

“Home sales slowed in many areas, while median sale prices increased, including in much of the Northern Virginia region,” said Jeffrey Detwiler, Long & Foster’s chief operating officer. “As the summer comes to a close, we anticipate that the housing market will remain healthy heading into the autumn season.”

Sales in Loudoun County were down 11 percent from a year ago. Closed sales in Fairfax County, Northern Virginia’s largest county by population, were down 6 percent.

Both saw prices rise.

The median price in Fairfax County was $492,500, up 1 percent. It was $450,000 in Loudoun County, up 3 percent.

Alexandria City saw a 7 percent year-over-year gain in sales, and a 10 percent jump in the median selling price to $536,000.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up