Local inventory growth far exceeds national gains, driven primarily by condos and townhomes, while prices rise faster than nationally

FAIRFAX, Va., Oct. 23, 2026 /PRNewswire/ — Northern Virginia’s housing market continued to diverge from national trends in September, with home prices rising more sharply and inventory increasing at a much faster rate than nationally. Closed sales declined in both markets, but Northern Virginia homes continued to spend the same amount of time on the market as a year ago, while nationally, homes took longer to sell, according to the Northern Virginia Association of Realtors® (NVAR).

The local inventory surge was driven primarily by condos and townhomes rather than a broad-based increase across all housing types. And despite the substantial growth in available listings, Northern Virginia continued to have considerably less housing supply relative to the pace of sales than the national market.

The number of closed sales in Northern Virginia totaled 1,250 in September, a 7.5% decrease from September 2025. Nationally, 3.99 million existing homes were sold, a 2.2% year-over-year decline. Both markets experienced fewer transactions, but the decrease was more pronounced in Northern Virginia. The comparison points to a greater slowdown in local sales activity, even as both markets contend with challenges bringing buyers and sellers together to complete transactions.

“September’s numbers continue to show that Northern Virginia is experiencing a meaningful shift in the housing market, particularly when it comes to inventory,” said NVAR CEO Ryan McLaughlin. “We’re seeing many more homes become available than we did a year ago, but that doesn’t automatically mean buyers have the same choices across every type of property. Right now, the majority of the inventory growth is coming from condos and townhomes. That creates more opportunities for buyers in those segments, but the overall supply of homes in Northern Virginia remains considerably tighter than what we’re seeing nationally.”

The median sold price in Northern Virginia reached $744,950 in September, a 4.2% increase from September 2025. Nationally, the median sold price was $417,500, up 1.3% year over year. Northern Virginia’s price growth was more than three times the national rate, despite the sharper local decline in sales. The comparison shows that home prices continue to rise more quickly in Northern Virginia, even as sales decline, while national price growth has been more modest.

The number of days on market further highlights the local and national differences. In Northern Virginia, homes spent an average of 28 days on the market in September, unchanged from September 2025. Nationally, the average reached 33 days, a 6.5% increase year over year. The difference suggests that, despite rising inventory, Northern Virginia home sales have maintained a steadier pace than the national market.

Active listings in Northern Virginia totaled 3,477 in September, a 30.7% increase from the same month last year. Nationally, inventory reached 1.6 million homes, up 4.6% compared to September 2025. Local inventory grew at more than six times the national rate, but it reflects a growing supply of attached homes, giving buyers more options in those segments. This distinction matters when assessing how much the market has changed and where buyers are seeing the greatest increase in choices.

Months of supply illustrate that distinction. Northern Virginia had 2.5 months of supply in September, up 29.5% from September 2025. Nationally, months of supply stood at 4.8, an increase of 6.7% over the same time last year. Although supply increased substantially faster in Northern Virginia, the region still had only about half the national level.

“Growing inventory is an important development for buyers, but it’s also essential to understand where that growth is happening,” McLaughlin said. The overall supply remains well below the national level. With 2.5 months of supply locally compared with 4.8 months nationally, Northern Virginia remains a tighter market. That helps explain why prices are rising more quickly here even as the number of available homes grows.”

As Northern Virginia’s housing market continues to shift, the growing availability of condos and townhomes is a key change to watch. Whether this trend continues, and how it affects pricing and sales activity across different property types, will help shape the region’s housing market in the months ahead.

Background
The Northern Virginia Association of Realtors® reports on home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax, and Falls Church and the towns of Vienna, Herndon, and Clifton. Below are September 2026 regional home sales compared to September 2025 for Northern Virginia, with data derived from Bright MLS as of October 12, 2026 (total sales and listings may not include garage/parking spaces):

• The number of closed sales in September 2026 was 1,250 units. This was a 7.5% decrease compared to September 2025.
• The volume sold in September 2026 was 1,105,117,806. This was an 8.7% decrease compared to September 2025.
• The median sold price in September 2026 was $744,950. This was up 4.2% compared to September 2025.
• The average days on market were 28 days in September 2026. This was unchanged compared to September 2025.
• The number of new pending sales in September 2026 was 1,204 units. This was down 16.2% compared to September 2026.
• The number of active listings in September 2026 was 3,477 units. This number was up 30.7% compared to September 2025.
• The months of supply of inventory in September 2026 was 2.5. This was up 29.5% compared to September 2025

NVAR Charts, Graphs, Social Media for September 2026 NVAR Housing Stats
September National Comparison: Click here.
September Housing Data: Click here.
Regional Jurisdiction Infographic: Click here.
NVAR Region Infographic: Click here.
2026 Mid-Year Regional Housing Market Forecast: Click here.
These links are accessible from the Market Stats page here: Click here.

About NVAR
The Northern Virginia Association of Realtors® (NVAR) serves as the voice of real estate in the Greater Northern Virginia Region. NVAR is dedicated to enhancing Realtor® success by delivering exceptional value, driving innovation, and impacting the industry. Headquartered in Fairfax, Virginia, with a new Member Experience Center located in Loudoun County, NVAR supports its 13,000 members with essential resources, including industry education, advocacy, networking, and professional development opportunities. The Association is committed to promoting ethical practices and excellence in real estate. It advocates on behalf of homebuyers, sellers, renters, and commercial tenants who are directly affected by local, state, and federal policy decisions impacting affordability, property rights, and quality of life. NVAR strives to elevate the standards of the real estate industry and to contribute to the overall growth and prosperity of the Washington DC Metropolitan Area and beyond. nvar.com. 

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SOURCE Northern Virginia Association of Realtors® (NVAR)