Is Herndon, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Herndon has remained a Seller's Market.
Housing Prices in Herndon, VA
How much do homes in Herndon, VA cost?
Median Sold Price
$666,288
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Herndon was $666,288 in February 2024, up 10.1% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $242.5K | $275.5K | +13.6% |
2 Bedrooms | $320K | $370K | +15.6% |
3 Bedrooms | $550.9K | $575K | +4.4% |
4 Bedrooms | $749K | $778.5K | +3.9% |
5+ Bedrooms | $785K | $890K | +13.4% |
Summary: Herndon housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 13.4%.
Median Sold Price Compared To Nearby Cities
Sterling | $510K | $582.7K | +14.3% |
Dranesville | $1.1M | $1.2M | +11.2% |
Herndon | $604.9K | $666.2K | +10.1% |
Hunter Mill | $650.7K | $700.9K | +7.7% |
Dulles | $732.2K | $768.8K | +5.0% |
Housing Supply in Herndon, VA
How many homes are available in Herndon, VA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
127 | 161 | +26.8% |
Summary: The Herndon real estate market had 161 homes for sale in February 2024, a 26.8% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 20 | 21 | +5.0% |
3 Bedrooms | 42 | 52 | +23.8% |
4 Bedrooms | 41 | 49 | +19.5% |
5+ Bedrooms | 19 | 33 | +73.7% |
Summary: The Herndon housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes increased by 73.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
32 | 34 | +6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Herndon in February 2024, up by 6.3% month-over-month. Of the 34 sold homes, 21% were sold under asking, 24% were sold at asking, and 56% were sold over asking.
Days on Market for Herndon, VA
How long does it take to sell a home in Herndon, VA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
19 Days | 7 Days | -63.2% |
Summary: Homes in Herndon had an average of 7 days on market in Feb 2024, down by 63.2% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 34 homes were sold in Herndon; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.