Burke, VA (PRWEB) October 31, 2012
According to the latest market reports compiled from data from residential real estate transactions throughout the region, the Northern Virginia real estate market continued to experience positive trends in September compared to the same month last year. Sales activity continued to increase, the median sale price rose and inventories continued to decrease to low levels due to homes selling at a rapid pace.
The latest reports show sales were up slightly from the same period last year — with September 2012 showing a 1% increase over 2011. The median sales price rose slightly, to $422,500, an increase of 1% over last year. Inventory was down sharply in September 2012, 35% below the previous year, indicating the backlog of inventory was being cleared out. The total active inventory in September was 2,724, compared to 4,198 a year earlier. The supply remained stable in September, as compared to August.
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).