Late May 2025 NoVA Market Update | A Deep Dive on Higher Days on Market Leading Towards a More Balanced Market | Northern Virginia Real Estate Market
- Scott Ford
- Jun 3
- 2 min read
Updated: 5 days ago
How's the Northern Virginia real estate market in late May as an indicator of what June may bring? How has it changed from my last deep dive NoVa market update in my May 8th Market Update Post?
Read on to see how the significant increase in Days on Market (DOM) before Houses for Sale go under contract is giving Buyers more options to consider, which gives Buyers more leverage than we have seen during the past two years. Buyer activity measured by New Contracts in May, April, and March is in line with 2024. However, Buyers are taking longer to decide upon a house to make an offer. For Sellers, this means that quality houses, with proper pricing and excellent presentation, are in many cases taking longer to go under contract.
A Thought to Consider As We Move into June: As New Contracts activity has increased over the past three weeks in Fairfax County, the DOM numbers have increased for both Active houses and Under Contract houses (by a lesser amount for the latter category). If the recent New Contracts trends continues, we may see Buyers putting more of the longer DOM Active houses under contract on the basis that the Sellers for these houses may be more willing to accept a lower price/buyer terms. So far, this circumstance does not seem to have occurred since DOM increased over the last 2-3 week period.
However, since New Listings will continue to trend lower as we are now past the historical ‘Peak’ for New Listings in the Spring Market, Buyer activity (i.e., New Contracts) that focuses on more of the higher DOM houses should be evidenced by flat DOM (or reduced DOM) for the Active houses week-to-week (i.e., the category of houses with DOM greater than the overall Median & Average DOM).
Each chart in the Post below is also included below for ease of data viewing.
For all my deep dive market analysis & monthly updates on the NoVA real estate market, including West End Alexandria & Kingstowne areas, check out bellacasapartners.com/marketnews.
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