Northern Virginia Housing Market Shows Resilience as Inventory Expands
Local Sales and Prices Outpace National Trends Amid Measured Market Adjustment
FAIRFAX, Va. (March 16, 2026) Northern Virginia’s housing market continues to outperform the national market, demonstrating resilience even as overall US housing activity moderates, according to the Northern Virginia Association of Realtors® (NVAR). In February 2026, local home sales increased while prices remained high and inventory expanded, contrasting with national trends where sales declined slightly and supply growth was more modest. These differences underscore the region’s strong demand and historically limited supply.
Northern Virginia closed 974 home sales in February, a 3.9% increase compared to February 2025, while national existing-home sales totaled 4.09 million units, down 1.4% year over year. This contrast suggests that buyers in Northern Virginia remain active and motivated, responding to both the region’s economic opportunities and the modest increase in inventory that provides more choices than were available a year ago. “Northern Virginia’s market continues to outperform national trends,” said NVAR CEO Ryan McLaughlin. “Rising sales reflect the enduring appeal of our communities, and buyers are responding to the increased selection and opportunity in the marketplace.”
The median sold price in Northern Virginia was $720,500, down 1.7% from February 2025, while the national median price increased slightly to $398,000, up 0.3% from the same time last year. Although local prices have eased slightly, they remain well above national levels, highlighting the region’s high-value housing stock and strong long-term demand. The modest local softening follows trends first observed in January, as expanding inventory begins to relieve some of the upward pressure that characterized the market in previous years. “The slight easing in local prices continues to reflect early market balancing,” McLaughlin said. “Moderate adjustments give buyers more leverage while sustaining long-term value for homeowners.”
Northern Virginia’s active listings rose to 1,699 units, up 11.8% from one year ago, compared with a national increase of 4.9% to 1.29 million units. Meanwhile, homes in the region averaged 30 days on market, a 36.4% increase year over year, reflecting that buyers now have more time to evaluate options and negotiate. These shifts suggest a measured market adjustment, where supply growth is beginning to temper the pace of sales without diminishing the underlying demand that has historically supported Northern Virginia prices.
The months of supply in Northern Virginia reached 1.23, up 10% from February 2025, while the national months of supply rose to 3.8, indicating that although supply is increasing locally, the region remains far below the four- to six-month range typically considered balanced. Inventory growth continues to be concentrated in attached housing, including condominiums and townhomes, giving buyers more options while still reflecting a long-term shortage of single-family homes. These trends continue the narrative first observed in January, as the region transitions toward a more balanced market while maintaining competitive conditions relative to the nation.
February’s data confirm that Northern Virginia’s housing market is adjusting at a measured rate. Local sales are up, prices remain elevated, and inventory growth is providing buyers with greater choice, while national conditions remain softer and more abundant. “Northern Virginia’s housing market is adjusting at a healthy pace,” McLaughlin added. “Inventory gains are giving buyers more options, and the modest price moderation ensures the market remains sustainable for the long term. Continued focus on expanding housing supply will be essential to supporting affordability and stability in the months ahead.”
To help mitigate the housing supply challenge, NVAR recently launched its NOVA Housing Supply Framework — a bold, regionally unified, and locally adaptable strategy to increase housing supply, protect affordability, and preserve Northern Virginia’s economic competitiveness. The Framework represents an unprecedented level of collaboration among Realtors®, builders, and the business community, uniting behind a single, focused policy platform designed to support predictable, efficient housing production and expanded homeownership opportunities.
Background
The Northern Virginia Association of Realtors® reports on home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax, and Falls Church and the towns of Vienna, Herndon, and Clifton. Below are February 2026 regional home sales compared to February 2025 for Northern Virginia, with data derived from Bright MLS as of March 9, 2026 (total sales and listings may not include garage/parking spaces):
- The number of closed sales in February 2026 was 974 units. This was a 3.9% increase compared to February 2025.
- The volume sold in February 2026 was $834,845,364. This was a 9.7% increase compared to February 2025.
- The median sold price in February 2026 was $720,500. This was down 1.7% compared to February 2025.
- The average days on market was 30 days in February 2026. This was up 36.4% compared to February 2025.
- The number of new pending sales in February 2026 was 1,195 units. This was up 8.8% compared to February 2025.
- The number of active listings in February 2026 was 1,699 units. This number was up 11.8% compared to February 2025.
- The months of supply of inventory in February 2026 was 1.23. This was up 10.0% compared to February 2025.
NVAR Charts, Graphs, Social Media for February 2026 NVAR Housing Stats
February National Comparison: Click here.
February Housing Data: Click here.
Regional Jurisdiction Infographic: Click here.
NVAR Region Infographic: Click here.
2026 Regional Housing Market Forecast: Click here.
These links are accessible from the Market Stats page here: Click here.
About NVAR
The Northern Virginia Association of Realtors® (NVAR) serves as the voice of real estate in the Greater Northern Virginia Region. NVAR is dedicated to enhancing Realtor® success by delivering exceptional value, driving innovation, and impacting the industry. Headquartered in Fairfax, Virginia, with a new Member Experience Center located in Loudoun County, NVAR supports its 13,000 members with essential resources, including industry education, advocacy, networking, and professional development opportunities. The Association is committed to promoting ethical practices and excellence in real estate. It advocates on behalf of homebuyers, sellers, renters, and commercial tenants who are directly affected by local, state, and federal policy decisions impacting affordability, property rights, and quality of life. NVAR strives to elevate the standards of the real estate industry and to contribute to the overall growth and prosperity of the Washington DC Metropolitan Area and beyond. nvar.com.
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