Is Sterling, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Sterling has remained a Seller's Market.
Key Takeaway
Sterling is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sterling, VA
How much do homes in Sterling, VA cost?
Median Sold Price
$589,909
$286/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sterling have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in Sterling was $589,909 in March 2024, up 14.5% from last year, and the median price per square foot was $286.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.4K | $202.7K | -27.5% |
| 2 Bedrooms | $350K | $375K | +7.1% |
| 3 Bedrooms | $490K | $564.7K | +15.2% |
| 4 Bedrooms | $605K | $660K | +9.1% |
| 5+ Bedrooms | $742.5K | $797.5K | +7.4% |
Summary: Sterling housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Sterling | $515K | $589.9K | +14.5% |
| Dranesville | $1.1M | $1.2M | +10.7% |
| Herndon | $613.2K | $667.3K | +8.8% |
| Sugarland Run | $599.5K | $628.7K | +4.9% |
| Potomac | $565K | $578.5K | +2.4% |
Housing Supply in Sterling, VA
How many homes are available in Sterling, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 267 | 280 | +4.9% |
Summary: The Sterling real estate market had 280 homes for sale in March 2024, a 4.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 75 | 74 | -1.3% |
| 3 Bedrooms | 97 | 96 | -1.0% |
| 4 Bedrooms | 72 | 82 | +13.9% |
| 5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The Sterling housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 65 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sterling, you could pay more than the asking price. 58.5% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in Sterling in March 2024, up by 25.0% month-over-month. Of the 65 sold homes, 12% were sold under asking, 29% were sold at asking, and 58% were sold over asking.
Days on Market for Sterling, VA
How long does it take to sell a home in Sterling, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 9 Days | -64.7% |
Summary: Homes in Sterling had an average of 9 days on market in Mar 2024, down by 64.7% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sterling are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 65 homes were sold in Sterling; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
