Is Sterling, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$595,211
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sterling have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Sterling was $595,211 in April 2024, up 12.3% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259K | $208.7K | -19.4% |
| 2 Bedrooms | $350K | $385K | +10.0% |
| 3 Bedrooms | $500K | $570.1K | +14.0% |
| 4 Bedrooms | $619.5K | $660K | +6.5% |
| 5+ Bedrooms | $729K | $797.5K | +9.4% |
Summary: Sterling housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.4%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Cities
| Sterling | $530K | $595.2K | +12.3% |
| Dranesville | $1.1M | $1.2M | +9.8% |
| Herndon | $620.1K | $675K | +8.8% |
| Potomac | $555K | $583.5K | +5.1% |
| Sugarland Run | $600.5K | $628.7K | +4.7% |
Housing Supply in Sterling, VA
How many homes are available in Sterling, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 153 | 206 | +34.6% |
Summary: The Sterling real estate market had 206 homes for sale in April 2024, a 34.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 28 | 34 | +21.4% |
| 3 Bedrooms | 57 | 77 | +35.1% |
| 4 Bedrooms | 50 | 60 | +20.0% |
| 5+ Bedrooms | 16 | 32 | +100.0% |
Summary: The Sterling housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 35.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 64 | -12.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sterling, you could pay more than the asking price. 67.2% of homes here sold above asking price last month.
Summary: A total of 64 homes were sold or pending in Sterling in April 2024, down by 12.3% month-over-month. Of the 64 sold homes, 14% were sold under asking, 19% were sold at asking, and 67% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 7 Days | -22.4% |
Summary: Homes in Sterling had an average of 7 days on market in Apr 2024, down by 22.4% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
3 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 April 2024, 64 homes were sold in Sterling; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
