Active Listings Continue to be Significantly Higher than 2024, as Buying Activity Level Remains Equal to 2024 | Northern Virginia Real Estate Market | Monthly Market Stats for May 2024
- Scott Ford
- Jun 14
- 2 min read
Updated: 1 day ago
The May 2025 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.
Loudoun County.
Montgomery County.
Prince Georges County.
Washington, DC.
Bright MLS's "Market Outlook" in the Bright MLS Washington Metro area Monthly Market Report for May 2024, states as follows:
"The Washington D.C. area housing market has been slower than typical this spring, but it has fared much better than some expected in the face of cuts to the federal workforce and general economic uncertainty. It may be too early to see the impacts of job cuts as more people will make decisions about buying and selling as we get past the end of the school year and into the summer."
(Emphasis added.)
Buying activity during March through May measured by New Contracts is essentially the same as 2024. New Contracts in Fairfax County during this period are up <2% (71 more Contracts out of 3833 total New Contracts during March-May 2025).
However, Buyers are taking longer to decide on a new home. The mid-June Average Days on Market (DOM) for Active Houses for Sale in Fairfax County is 40 days. Active Listings in Fairfax County for April and May were up significantly over 2024 (62.3% in April & 46.3% in May).
Buyers have more houses to choose from. More choices means a market environment where Buyers have more leverage than we have seen during the past two years. If the DOM trend continues, even as New Listings trend downward into July per historical norm, we will likely be in a “Balanced” market, which is defined as 3 months of house inventory. At present, we are just over 2 months in the NoVA market, which is double the level seen in the last 5 years. Our market has been locked in a sub-1 month inventory range for so long that a 2 month supply of Inventory “feels” & “acts” like a Balanced Market.
For a Deep Dive into Buyer activity and the increasing Days on Market in the Northern Virginia market, check out my recent posts at the following links:
See more market news, insight, & analysis on my "How's the Market?" Blog at bellacasapartners.com/marketnews.
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