Northern Virginia Home Values Continue to Rise

Northern Virginia Home Values Continue to Rise

The average home value in Northern Virginia climbed again in May, with some areas seeing nearly an 8 percent increase compared to the same time last year, according to data from Zillow. While the typical home value across Virginia is $393,527, Northern Virginia remains significantly higher.

Key Insights:

  • Fairfax City and Fairfax County lead with nearly 8 percent increases in home values.

  • Manassas and Manassas Park saw over a 7 percent rise.

  • Falls Church City remains the most expensive area with average home values over $1.1 million.

  • Arlington County follows closely at an average of $813,000.

Detailed Breakdown by Area:


Alexandria City
Average home value (May 2024): $656,948
Percent change: 4.7 percent

Arlington
Average home value (May 2024): $813,101
Percent change: 5.1 percent


Fairfax
Average home value (May 2024): $741,040
Percent change: 7.9 percent


Fairfax City
Average home value (May 2024): $750,703
Percent change: 7.9 percent


Falls Church City
Average home value (May 2024): $1,123,903
Percent change: 5.2 percent


Fredericksburg City
Average home value (May 2024): $453,887
Percent change: 5.2 percent


Loudoun
Average home value (May 2024): $773,213
Percent change: 6.9 percent


Manassas City
Average home value (May 2024): $471,187
Percent change: 7 percent


Manassas Park City
Average home value (May 2024): $439,323
Percent change: 7.3 percent


Prince William
Average home value (May 2024): $560,099
Percent change: 6.1 percent


Spotsylvania
Average home value (May 2024): $430,419
Percent change: 6.1 percent


Stafford
Average home value (May 2024): $516,287
Percent change: 5.2 percent

Overall, the housing market in Northern Virginia is robust, with home values continuing to rise significantly above both state and national averages.

 

SCOTT JACOBS
(703) 346-5855
scottjacobsbroker.jacobsandco.com
 
 
JACOBS & CO. REAL ESTATE, LLC.
12923 Fitzwater Dr. Nokesville, VA 20155 
(703) 594-3800 | jacobsandco.com


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