Northern Virginia Housing Market Sees Inventory Surge Amid Slower Sales

The Northern Virginia Association of Realtors reported that active listings climbed to 2,932 units in August, an 18.5% increase over the previous year. This growth was fueled almost entirely by attached housing, with condo inventory jumping 44.8% and townhome listings rising 29.9%. Conversely, detached home listings bucked the trend, falling 8.5% to 998 units, effectively shrinking their share of the total market from 28% to 21%.

While transaction volume cooled—totaling $1.195 billion—the median price held firm at $765,000, a 2% year-over-year increase. This price resilience indicates that despite a decline in activity, demand for well-positioned properties remains stable. Average time on market held steady at 26 days, suggesting that while buyers are more selective and less active than in 2025, they continue to move quickly once they find a suitable property.

NVAR CEO Ryan McLaughlin noted that the market is becoming increasingly nuanced, with property types dictating vastly different experiences for participants. While buyers in the attached segment enjoy newfound leverage, the broader market remains constrained by financing costs and personal economic factors. With months of supply rising to 2.08, the region is seeing a shift toward a more balanced environment, though it remains far from an oversupplied state.