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Writer's pictureScott Ford
Mar 13

The 'Spring Market' for Northern Virginia real estate starts in February. Did we see a lot more houses for sale? Answer: No.

The 'Spring Market' is generally seen as starting in our area in February. A question that savvy agents were tracking is whether the start of the 'Spring Market' with lower interest rates after rates crested to around 8% in late-October/early November would bring more Sellers into the market, thereby increasing our anemic house for sale inventory.


The answer to that question is No. Inventory levels in Northern Virginia remained at or below 1 month supply.


The February 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.


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





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