The Northern Virginia and DC real estate market is showing signs of a shift, but remains strong in many areas. Bright MLS data for September reveals rising inventory (up 18%) and pending sales (up 15%), with median home prices up 9% year-over-year across the DC region. Detached single-family homes and townhomes are performing well, though condos show slowing demand and growing inventory. Certain counties like Fairfax, Arlington, and Alexandria remain hot with rising prices and fast sales, while outlying areas like Culpeper and Stafford show slower markets and growing supply. Overall, higher interest rates, new construction, and buyer life changes (like divorce, job moves, or family growth) are shaping the market.
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