Submit Content

Ask Eli: Cost of new construction homes in Northern Virginia

This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!

Question: How has the cost of new construction single-family homes changed over the last few years?

Answer: First, thank you to everybody who voted in last week’s poll to decide how we would donate to locate charities. Arlington Food Assistance Center (AFAC) received almost 2/3 of the vote and thus a donation of nearly $1,000 to help feed our neighbors in need. Now on to this week’s real estate topic…

The cost of a single-family home has skyrocketed locally and nationwide, with the average cost of a single-family home in Northern Virginia increasing 31.6% from October 2019 to October 2021. This data includes resales of existing homes and new construction, with the majority of the sales being resales. Let’s take a specific look at how the cost of a new single-family home in Northern Virginia has changed over the last three years (hint: they also got much more expensive!).

A few quick notes about the data:

  • The data is limited to what has been entered into the MLS (Realtor database of record) and not all new construction makes it into the MLS, but the majority does and thus gives us an accurate reading of the market
  • Northern Virginia aggregate totals includes Arlington, Fairfax, Loudoun and Prince William Counties plus the Alexandria, Falls Church, Fairfax and Manassas Cities
  • In the table below Alexandria, Falls Church, Fairfax and Manassas refer to the County, not City, portions

Here are some highlights from the data I reviewed:

  • The average cost of a new single-family home in Northern Virginia increased a staggering 25.9% to an average sold price over $1.6M from 2019 to 2021
  • The biggest increase from the localities I reviewed was in Aldie, which increased 37.5% to an average cost over $1.25M from 2019 to 2021
  • The most expensive County for a new single-family home is Arlington, coming in at an average sold price just over $2M in 2021, trailed only slightly by Fairfax County, with an average sold price about $100,000 less than Arlington
  • The best value, on a price per square foot basis, for new construction in 2021 is in Manassas ($173/SqFt) and Dumfries ($183/SqFt) and the least value, on price per square foot, is McLean ($380/SqFt) and Arlington ($379/SqFt)

If you are interested in learning more about new construction options in Northern VA or the DC Metro, feel free to email me at [email protected].

If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at 703-539-2529.

Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. 703-390-9460.

Recent Stories

(Updated, 4:10 p.m.) It hasn’t been a perfect ten months, but Mir is happy to be alive. It was nearly a year ago when he, his wife, and his young…

Arlington’s fall aquatics class registration did not go swimmingly for many who attempted it on Wednesday. On the plus side, there appears to have been some degree of improvement from…

Today’s Listing of the Day is a 2 BD/2 BA home on a 2.5 acre lot with an oversized one car garage.

Discover what you should be doing if new to real estate development in Boring Title this week.

Do you struggle with anxiety, depression, stress, grief, trauma or anger? Are
you ready to make a change?

Lauren K. Nickum, LCSW, CSAC from Peaceful Mind Solutions is now taking new
clients for psychotherapy. Lauren has over 10 years of experience treating
mental health disorders and general life stress in adults and adolescents. For
more information visit
peacefulmindsolutions.com.

Submit your own Community Post here.

(This Community Post was written by Signature Theatre and underwritten by Embracing Arlington Arts.)

Signature Theatre just released single tickets for all 33rd season productions, which highlights the organization’s long-time relationship with legendary composer Stephen Sondheim. Beginning with the musical adaptation of The Color Purple and irreverent No Place to Go, the season continues with three Sondheim musicals, the DC premieres of Off-Broadway hit Which Way to the Stage and Pulitzer Prize finalist Selling Kabul, the Tony Award®-winning rock musical Passing Strange, and return of Signature’s cabaret series honoring legendary artists.

“Last November, the world lost an icon. The death of Stephen Sondheim was a blow to everyone in the theater community. Signature Theatre would not be the same without Sondheim — he IS Signature’s ‘signature.’ This season, we are honoring the legend with productions of Into the Woods, Pacific Overtures and Sweeney Todd dedicated to his memory. These shows represent the diversity and range of Sondheim,” said Signature’s Artistic Director Matthew Gardiner about the new season.

Read More

Submit your own Community Post here.

Azure Dream Day Spa Grand Opening

Azure Dream Day Spa is hosting their Grand Opening Celebration at their beautiful new spa located at 901 N. Quincy St. on Friday, August 12 from 5-9 p.m.

All are invited to come tour the new spa and to take

Running & Strength Training Group Workout #1

Join our first workout of Coach Kate’s fall Running & Strength Training Program on Tuesday, August 30 at 6:30 a.m. at Oak Grove Park.

First/trial session is Free Of Charge. If you would like to join the program — which

×

Subscribe to our mailing list