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Dear Friends,
September brings a welcoming change of pace to the DC area, with crisp fall days, seasonal events, and new opportunities to explore the region. As the market transitions into a new season, it’s a great time to take stock of what’s happening across the DMV and consider what the months ahead may bring for buyers and sellers.
Fall can offer a unique window for those considering a move, with seasonal changes in buyer activity creating opportunities to take a more thoughtful approach to the search. For buyers, a little more flexibility and time to explore available properties can make this an especially worthwhile season to keep an eye on the market.
Beyond real estate, September is filled with opportunities to enjoy the best of the DMV, from local events and cultural happenings to the changing scenery that makes fall such a special time of year. We’ve also highlighted several properties currently on the market that are worth a closer look.
On a personal note, Will’s two children, Susannah and Theo, have officially started their school adventures, with Susannah heading off to kindergarten and Theo beginning preschool. We’re wishing them both a wonderful start to the school year!
The Prendergast Team
Market Update
A Market Entering a New Phase — And Why That’s Not a Bad Thing
For the first time in a long while, the Northern Virginia headline number blinked. The regional median sold price came in at $750,000 in July, down 1.3% year-over-year, while active listings surged 19.6% — a striking divergence from the national market, where inventory actually declined. Before anyone reaches for the panic button, look one layer deeper, because this is really two markets wearing one headline. The inventory wave is almost entirely condos (up 41%) and attached homes (up 33%) — while detached home inventory actually fell 2.5%. The region is entering a new phase of the housing cycle: far more choice in some segments, while the supply of single-family homes remains very limited.
That distinction is everything in our corner of the map. Arlington’s median held at $823,000 in July — well above the regional figure — and North Arlington single-family homes continue to trade in the $1.4M-and-up range. McLean and Great Falls remain premium market
s where limited supply continues to drive pricing, with Great Falls medians running around $1.67M and estates trading on acreage, architecture, and Potomac proximity rather than speed. And lest anyone forget how strong the season actually was: June delivered an $810,000 regional median, up 5.2%, with $1.85 billion in total volume. July’s softness looks a lot more like seasonal breathing room plus a condo-supply story than a change in the fundamentals.
So what’s the September playbook? Homes here still sold in 21 days on average versus 29 nationally — this remains one of the fastest-moving markets in America, just a more discerning one. Sellers of well-prepared detached homes in McLean, Great Falls, and North Arlington are still operating from a position of genuine scarcity; the buyers are there, but they’re comparison shopping like it’s their job. And for buyers — particularly anyone eyeing a condo or townhome as a first purchase, a downsize, or an investment — this is the most choice you’ve had in years. Fall may quietly be the smartest entry window this market has offered in a long time.
Fall into September
Enjoy a family-friendly fall getaway in the heart of Bluemont, VA.
Celebrate fall at this Maryland farm with seasonal fun.
Enjoy a relaxing staycation in the charming town of Middleburg, VA.
Could Fall Be Your Moment to Buy?
The fall housing market can bring a different set of opportunities for buyers than the busier spring and summer months. As activity begins to cool, buyers may have more time to explore their options, encounter less competition, and find sellers who are more open to negotiation.
Zillow’s latest insights take a closer look at why autumn could work in a buyer’s favor this year, including increased inventory, fewer bidding wars, and the possibility of finding price reductions as sellers adjust to changing market conditions.
Every market is different, and local trends can play an important role in determining the right time to buy. Reach out to our team for guidance on navigating the DMV market.
Thinking about buying this fall? Contact us for a personalized market update and a look at what’s coming soon.
Client Testimonial
“We were very happy with the Prendergast Team. Marianne and Will worked with us to get our house in the best shape at the best time for sale. They knew what needed to be addressed and who to call to help make it happen. They are experienced, well-regarded by the other realtors, and delightful to be around.”
Justin W.
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