The post Market Boom or Bust in Tysons 2025? appeared first on Soldsense - Northern Virginia Real Estate.
]]>In 2024, Tysons Corner’s real estate market exhibited robust pricing amidst a transaction volume slightly below the 5 year average. The still elevated interest rates likely contributed to a continued low inventory. Homes for sale continued to swiftly leave the market, often generating multiple offers and surpassing asking prices.
In 2025, with anticipated interest rate reductions, existing owners will hopefully let go of their low fixed-rate mortgages and proceed with the normal up and downsizing that happens.
Illustrated in the graph below, the number of new listings in the Tysons Corner 22102 and 22182 zip codes tracked slightly below the 5-year average for 2024 and the first two months in 2025.
There are currently 93 homes listed as Active in the 22102 and 22182 zipcodes. (see a list of those homes for sale in the Tysons Corner area here.)
Among these, 48 are detached homes with a median cumulative days on market (CDOM) of 127 days and a median price of $3,099,450. Additionally, there are 2 townhomes with a median CDOM of 30 days and a median price of $1,406,900, and 42 condominiums with a median CDOM of 66 days and a median price of $571,250.
So, how are things selling in the 22102 and 22182 zipcodes? In 2024 the number of homes sold generally remained slightly under the 5-year average in the Tysons Corner 22102 and 22182 zip codes. The number of sales in January and February 2005 were down but it is too early to tell what caused that. It could be anything, including the election, weather or a multitude of other factors. Keep in mind the number of sales is a lagging indicator, those homes were likely put on the market 1-3 months before they closed.
For a broader regional context, NVAR has released year-over-year statistics for February 2025 for the entire region, offering a comprehensive view of the market dynamics during this period.
From the NVAR February 11th press release:
FAIRFAX, Va. (March 11, 2025) The Northern Virginia housing market in February 2025 showed a combination of growing inventory and slowing sales activity, reports the Northern Virginia Association of Realtors® (NVAR). While total closed sales and dollar volume declined compared to last year, the median home price increased, and active listings rose significantly, indicating a shift toward a more balanced market.
In February 2025, 937 homes were sold, representing an 8.1% decrease compared to February 2024. The total dollar volume of homes sold fell by 9.5% to $761.4 million, reflecting a pullback in overall market activity. However, the median sold price rose 6.6% to $732,750, showing continued strength in home values despite fewer transactions.
“The Northern Virginia market is adjusting to changing economic conditions, with buyers and sellers navigating shifts in affordability and inventory,” said Ryan McLaughlin, CEO of NVAR. “While closed sales have slowed, the steady median home price suggests ongoing demand for well-priced properties.”
One of the most notable trends in February was the sharp increase in available homes. Active listings rose 31.8% year-over-year to 1,520 units, and the months of supply grew by 29% to 1.12 months, indicating a rise in housing options for buyers.
“The increase in active listings is an encouraging development for prospective homebuyers who have been faced with limited options in recent years,” said NVAR President Casey Menish, Pearson Smith Realty. “A boost in inventory not only helps create a more balanced market but also opens doors for buyers who may have been sidelined by fierce competition or rising prices. This shift could provide much-needed opportunities for those eager to make their move.”
However, new listings decreased by 3.8% and new pending sales dropped by 6.7%, suggesting some hesitation from sellers and buyers alike. Meanwhile, the average days on market remained steady at 22 days, indicating that well-positioned homes continue to sell at a stable pace.
“While the market is seeing shifts, homes that are competitively priced are still moving quickly,” added McLaughlin. “As inventory continues to grow, buyers will likely have more negotiating power in the coming months.”
As Northern Virginia’s housing market navigates fluctuations in inventory and home prices, experts continue to assess the underlying factors driving these changes. One area of ongoing discussion is the shifting dynamics of the federal workforce, a key component of the region’s economy. Although these changes may play a role, their full impact on the housing market remains uncertain.
The market is constantly changing. Let us help you put together a strategy to sell your home for top dollars – contact us to set up a time to talk.
The post Market Boom or Bust in Tysons 2025? appeared first on Soldsense - Northern Virginia Real Estate.
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Located just down the street from Tysons Corner mall, Gates of Mclean is a community I have been active in for many years. Gates of Mclean is a medium sized condominium community squeezed in between I-495, Chain Bridge Road and the Capital One campus. Gates of Mclean was built back in 1997 as an apartment complex, the first Capital One building was built a few years later, and the community was converted to condominiums in the optimistic real estate market around 2004. Like everywhere else at the time, units sold quickly and at ever increasing prices.
The Gates of Mclean had another exciting year in 2020. There is a lot to be thankful for now that the Scotts Crossing connector is finally complete (and the Wegmans has opened across the street.) It has been some challenging years with non-stop construction dust, noise and roadwork closures.
The Gates of McLean is a well run and attractive community. For example, the latest hallway renovation design is well thought out.
With the Silver Line metro line phase 1 long completed and phase 2 on the way many communities are now metro-walkable for the first time. Apart from being able to park your car at home there are also other great new areas amenities like new grocery stores, retail and restaurants.
McLean metro stop
