Is Sterling, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sterling is a seller's market

Buyer's
Market

Difference Since May 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

$600,142

$291/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$60,142(+11.1%)

Key Takeaway

Homes in Sterling have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Sterling was $600,142 in May 2024, up 11.1% from last year, and the median price per square foot was $291.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $259K$210K
-18.9%
2 $355K$387.5K
+9.2%
3 $517K$575K
+11.2%
4 $632.6K$665K
+5.1%
5+ $704.5K$821K
+16.5%

Summary: Sterling housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.9%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 16.5%.

Median Sold Price Compared To Nearby Cities

Sterling
+11.1%
Dranesville
+9.1%
Sugarland Run
+5.6%
Herndon
+3.9%
Potomac
+3.8%

Housing Supply in Sterling, VA

How many homes are available in Sterling, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
203254+25.1%

Summary: The Sterling real estate market had 254 homes for sale in May 2024, a 25.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 32
-33.3%
2 3335
+6.1%
3 78115
+47.4%
4 5868
+17.2%
5+ 3134
+9.7%

Summary: The Sterling housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 9.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6554-16.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

35 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sterling, you could pay more than the asking price. 64.8% of homes here sold above asking price last month.

Summary: A total of 54 homes were sold or pending in Sterling in May 2024, down by 16.9% month-over-month. Of the 54 sold homes, 17% were sold under asking, 19% were sold at asking, and 65% 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

May 2023May 2024CHANGE
8 Days8 Days+2.0%

Summary: Homes in Sterling had an average of 8 days on market in May 2024, up by 2% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sterling are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 54 homes were sold in Sterling; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Sterling, VA

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