Burke, VA (PRWEB) January 29, 2015
Pasquali Realty Group, a Northern Virginia real estate company, states that according to the latest reports gathered from home transactions throughout the region, some areas of Northern Virginia saw an increase in the number of homes sold in December. Parts of the region also enjoyed rising median sale prices. The Northern Virginia market includes the city of Alexandria and Arlington, Fairfax, Loudoun and Price William counties.
The Northern Virginia real estate market saw increases in median sale prices in a number of areas when compared to December 2013, including a 9 percent jump in Prince William County. Arlington County saw median sale price rise by 8 percent, and Fairfax County experienced a 6 percent increase. Loudoun County saw no change in median sale price compared to the previous year, while Alexandria City experienced a 2 percent drop.
The number of units sold jumped by 17 percent in Prince William County, while Fairfax County saw a smaller increase of 9 percent. Arlington County experienced a 5 percent increase in the number of homes sold in December. Alexandria City and Loudoun County saw decreases of 6 percent and 11 percent, respectively.
Inventory increased throughout most of the region, with Loudoun County seeing the largest jump at 30 percent. Arlington County followed with a 22 percent increase in inventory. Inventory rose by 15 percent in Fairfax County and by 12 percent in Prince William County. Alexandria City saw no change in the amount of active inventory on the market.
Homes have continued to sell at a solid pace throughout Northern Virginia, according to December data. In Arlington County, the average days on market (DOM) was 39 days, followed by Loudoun County with a DOM of 46 days. Alexandria City experienced an average DOM of 48 days, while Fairfax and Prince William counties followed with DOMs of 49 days and 52 days, respectively.
Pasquali Realty Group is an incorporated business that is a subsidiary under NBI Realty, and is currently licensed in both Virginia, and Washington, DC. They are a member of the National Board of Realtors (NAR), Virginia Board of Realtors (VAR), and Northern Virginia Board of Realtors (NVAR).