Virginia Luxury Market Report May 2023

Welcome to J Brothers Realty and Investment Group’s Luxury Market Report for Virginia.

Single Family Homes Analysis

The Arlington & Alexandria market demonstrates a robust luxury real estate segment. With a median list price of $2,200,000.00 and a median sold price of $1,815,000.00, we observe a healthy market activity. The relatively low days on market (5) indicate a high demand for luxury properties in this area.

Charlottesville showcases a vibrant luxury real estate market. The median list price stands at $1,262,500.00, with a median sold price of $1,052,000.00. The relatively short days on market (5) and a higher number of sold properties (47) suggest a favorable environment for luxury home sellers.

Fairfax County represents a prominent luxury real estate market. The median list price reaches $2,034,108.00, while the median sold price is $1,438,750.00. The market shows healthy activity with a substantial number of new listings (144) and sold properties (178). The days on market (6) indicate a relatively quick pace for luxury home transactions.

The McLean & Vienna market is characterized by high-end luxury properties. With a median list price of $2,598,444.00 and a median sold price of $1,824,750.00, this market attracts affluent buyers. The number of sold properties (59) indicates a strong demand, while the relatively short days on market (6) reinforce the active nature of the market.

Richmond’s luxury real estate market offers an attractive price range. The median list price is $810,400.00, while the median sold price stands at $818,000.00. The market exhibits a healthy volume of transactions, with a significant number of new listings (113) and a large number of sold properties (213). The days on market (7).

Single Family Homes
State Market NameMedian
List Price
Median
Sold Price
InventoryNew
Listings
SoldDays On MarketMarket Status
Arlington & Alexandria$2,200,000.00$1,815,000.0010348375sellers
Charlottesville$1,262,500.00$1,052,000.0014032475sellers
Fairfax County$2,034,108.00$1,438,750.003301441786sellers
McLean & Vienna$2,598,444.00$1,824,750.0015054596sellers
Richmond$810,400.00$818,000.003391132137sellers
Attached Homes
State Market NameMedian
List Price
Median
Sold Price
InventoryNew
Listings
SoldDays on MarketMarket status
Arlington & Alexandria$1,109,500.00$1,003,500.006443916sellers
Charlottesville$589,000.00$582,915.004718194sellers
Fairfax County$805,270.00$705,000.00115691875sellers
McLean & Vienna$1,190,475.00$965,000.003010147sellers
Richmond$558,228.00$557,493.0080243015sellers
Table showing luxury market data

Attached Homes Analysis

In Arlington & Alexandria, the attached homes market demonstrates strong activity. The median list price is $1,109,500.00, while the median sold price is $1,003,500.00. With a relatively low number of days on market (6), we observe a competitive environment and a high demand for attached homes.

Charlottesville’s attached homes market offers more affordable luxury options. The median list price is $589,000.00, with a median sold price of $582,915.00. The market has a relatively short average days on market (4), indicating a brisk pace of sales and a strong seller’s market.

Fairfax County’s attached homes market showcases a healthy level of activity. The median list price is $805,270.00, with a median sold price of $705,000.00. The market has a significant number of new listings (69) and a large volume of sold properties (187). With a relatively short average days on market (5), sellers have favorable conditions.

The McLean & Vienna attached homes market features higher-end luxury options. The median list price reaches $1,190,475.00, with a median sold price of $965,000.00. The market has a smaller inventory (30) but maintains a steady pace of transactions. The average days on market (7) suggest a relatively balanced market.

The Richmond attached homes market provides affordable luxury options. With a median list price of $558,228.00 and a median sold price of $557,493.00, the market offers competitive prices. The average days on market (15) indicate a slightly longer selling process compared to other markets.

Overall, the luxury attached homes markets in these regions show varying levels of activity and pricing. Arlington & Alexandria and Fairfax County demonstrate strong demand, while Charlottesville offers more affordable options. McLean & Vienna represent higher-end.

Disclaimer: This report is based on available data for April 2023, through various sources so it is not guaranteed. Market conditions may vary, and it is recommended to consult with real estate professionals for accurate and up-to-date information.

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J Brothers Realty and Investment Group – Brokered by eXp Realty LLC 1320 Central Blvd Suite 200, Fredericksburg, VA 22401. Call J Brothers Realty and Investment Group at (571) 402-4460 or email : info@jbrothersrealtyinvestmentgroup.com. We look forward to serving you.

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