The LoCo Real Estate Market Report
Sterling, VA
Single-Family Homes
www.LoCoMusings.com
Sterling, VA
Tue Apr 16 2024
This week the median list price for Sterling, VA is $915,000 with the market action index hovering around 41. This is an increase over last month's market action index of 39. Inventory has increased to 17.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $915,000 | |
| Median Price of New Listings | $870,000 | |
| Per Square Foot | $348 | |
| Average Days on Market | 40 | |
| Median Days on Market | 7 | |
| Price Decreased | 12% | |
| Price Increased | 18% | |
| Relisted | 0% | |
| Inventory | 17 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,184,124 | 3,805 | 6,500 - 8,000 sqft | 3 | 3.8 | 9 | 2 | 1 | 49 |
| $962,398 | 3,219 | 4,500 - 6,500 sqft | 4 | 3.5 | 15 | 1 | 0 | 38 |
| $873,794 | 2,512 | 8,000 - 10,000 sqft | 4 | 2.8 | 39 | 1 | 0 | 63 |
| $730,000 | 1,980 | 6,500 - 8,000 sqft | 4 | 3 | 37 | 4 | 2 | 0 |