The Summer Market Begins - New Listings Decline, While Inventory Increases Slightly as Houses Take Longer to Sell | Northern Virginia Real Estate Market | Monthly Market Stats for June 2024

The June 2024 Bright MLS monthly data for the Northern Virginia & Washington Metro real estate market is provided below for the following areas:

• Alexandria City.

• Arlington County.

• Fairfax County.

• Loudon County.

• Montgomery County.

• Prince Georges County.

• Washington DC.

The "Summer" Market comprises most of June through August in our area. This year, we start the Summer with inventory slightly increasing as houses take longer to sell, but the inventory level is still low relative to house options for Buyers who are actively looking for a new home.

The current low inventory situation poses challenges for buyers to successfully obtain a Home of Choice, as well as opportunities for sellers. The quality, credibility, and experience of your agent will have a decisive impact upon your home selling or buying outcome.