Northern Virginia sees surge in housing inventory

The Northern Virginia housing market saw a nearly 70% increase in active listings in April, compared with 2024, the Northern Virginia Association of Realtors reports.

NVAR data released Tuesday shows that Northern Virginia saw a 69% increase in active monthly real estate listings from last year, reaching 2,508 properties. April’s monthly supply of inventory — a measure of how many months homes would remain on the market if no new inventory were added — increased to 1.85 months, a 65.8% increase over the previous year and a 27.58% increase over March.

NVAR reports that 1,584 homes were sold in April — a 2.4% decrease from the same month in 2024. But despite fewer transactions, the association reports the total dollar volume rose to more than $1.4 billion, a 2.2% increase from last year. NVAR says this increase is driven partially by the continued rise in home values.

The median sale price last month was $779,000, up 3.7% from April 2024. NVAR believes this demonstrates sustained buyer demand in a competitive region.

“Rising prices and steady buyer interest signal that Northern Virginia’s housing market remains fundamentally strong, even as overall sales dipped slightly,” said NVAR CEO Ryan McLaughlin in a statement. “Homeowners continue to benefit from meaningful equity growth, while buyers are acting decisively when the right opportunity arises.”

Homes spent an average of 14 days on the market last month — steady from last year.

NVAR Board Member Rob Carney said in a statement that the current market gives home buyers the benefit of more choices and a better chance of having their offers accepted.

When Northern Virginia’s active listings in March saw a 63.6% increase over the same month in 2024, some speculated part of the uptick was due to the labor turmoil in the federal sector. Under President Donald Trump’s administration, tens of thousands of federal employees have been fired or put on leave this year as part of President Donald Trump’s efforts to cut federal spending. There have also been layoffs in the government contracting industry due to Trump cutting federal contracts. At least 175,000 federal workers lived in the region as of 2023, according to data from the Northern Virginia Regional Commission.

NVAR said Tuesday that while inventory has increased substantially, there is still no significant data indicating that this is being driven by changes in the federal workforce.

“With a healthier balance between supply and demand, we’re seeing a more stable marketplace emerge,” McLaughlin said in a statement. “That’s good for long-term sustainability and economic vitality in our region.”