The 'Spring Market' Part 2: Little Change in Our Low Inventory Market Northern Virginia Real Estate Market | Monthly Market Stats for April 2024

The April 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 months of March and April are the heart of the 'Spring Market' in our area. However, the Northern Virginia market continued to have low housing inventory this March and April.

A slight "increase" in inventory that is still at or below one (1) month supply of houses for sale is still effectively no inventory for many buyers looking for their home of choice.

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.