Mid-April Northern Virginia Real Estate Market Update: Inventory Doubles, But It’s Still a Seller’s Market
By Tom Pietsch, Tom and Cindy and Associates at Long & Foster
Watch the full video here:
Hey everybody — Tom Pietsch here with your mid-April Northern Virginia real estate market update. There’s a lot happening out there right now, and whether you’re thinking about buying, selling, or just keeping an eye on your home’s value, here’s what you need to know.
Inventory Has Doubled — But It’s Still a Seller’s Market
Let’s start with the headline: inventory in Northern Virginia has roughly doubled since last month. That sounds dramatic, but here’s the context — we were coming off historically low numbers, so even a doubling still leaves us with a tight, competitive market. Buyers have more to choose from than they did 30 days ago, but this is still firmly a seller’s market.
In our backyard — zip codes 22315 and 22310 in Alexandria, which our team has been tracking for the last 25 years — there are currently just 53 homes on the market. These two zip codes tend to mirror broader Northern Virginia trends pretty closely, so consider it a useful snapshot of what’s happening across the region.
Interest Rates: Holding Steady, With an Interesting Option for Buyers
Mortgage rates are hovering right around where they were a year ago. Conventional 30-year rates are currently around 6.5%.
One thing worth watching: we’re seeing some attractive 10-year adjustable rate mortgages (ARMs) hit the market. For the right buyer — someone who knows they’ll move or refinance within a decade — these could offer meaningful savings compared to a traditional 30-year fixed. It’s worth a conversation with your lender if that timeline matches your plans.
The Real Story: Condition and Pricing Are Everything
Here’s where things get interesting — and where sellers really need to pay attention.
We’re seeing a clear split in the market. Homes that are in great condition, well-staged, and have strong professional photography are getting noticeably more showings than properties that are under-improved or overpriced. The numbers back it up:
Of the 28 pending listings right now in our tracked zip codes, only 3 have been on the market longer than 21 days.
Of the last 45 sales to go to settlement, only 7 were on the market for three weeks or more.
Translation? The vast majority of successful sellers are going under contract within three weeks. The homes that are sitting? They typically have to drop their asking price to generate interest.
What This Means If You’re Selling
If you’re preparing to list your home this spring, the data is crystal clear:
Presentation matters. Updated, well-maintained homes with quality photos are winning.
Pricing matters even more. Come in correctly priced and you’ll likely see a fast sale — often at full price, sometimes with multiple offers pushing it higher.
Overpricing backfires. The market is efficient right now. Buyers recognize value, and they’ll wait out (or negotiate down) listings that aren’t priced right.
The formula is simple: great condition + correct pricing = a happy sale.
What This Means If You’re Buying
More inventory means more options, and that’s good news if you’ve been waiting on the sidelines. That said:
The best homes are still moving fast. If you find one you love, be prepared to move quickly.
Ask your lender about current ARM options — they may open up buying power you didn’t know you had.
Work with an agent who knows the hyper-local data. Neighborhood-level trends matter more than national headlines right now.
Let’s Talk About Your Real Estate Goals
Whether you’re thinking about selling this spring, looking to buy, or just want to understand what your home is worth in today’s market, we’d love to help. The Tom and Cindy team has been tracking Northern Virginia real estate for 25+ years, and we’re happy to share that experience with you.
📞 Give us a call, send a message, or contact us through the website to start the conversation.
And don’t forget to watch the full video update for all the details — and subscribe to our channel so you don’t miss next month’s market report!
Tom Pietsch is a REALTOR® with Tom and Cindy and Associates at Long & Foster, serving Northern Virginia for over 25 years.
