Burke, VA (PRWEB) January 30, 2014
According to the latest reports, compiled from data from residential real estate sales transactions throughout the region, The Northern Virginia real estate market experienced some positive trends in December compared to the same month last year. Median sale prices were up throughout the region and days on market remain low. The Northern Virginia market includes the city of Alexandria, and Arlington, Fairfax, Loudoun and Prince William counties.
The Northern Virginia region experienced increased median sale prices in the entire region compared to the same month in 2012. Arlington County saw the biggest increase at 9 percent, while Alexandria City followed closely behind at 8 percent. Fairfax County experienced a 5 percent increase in median sale price. Prince William and Loudoun counties saw increases of 3 percent and 2 percent, respectively.
The number of units sold increased in much of the area, including by a healthy 16 percent in Arlington County. The number of homes sold increased by 6 percent in Alexandria City and 3 percent in Loudoun County. Fairfax County experienced no change in the number of units sold, while Prince William County experienced a small decrease in units sold of 2 percent.
Homes continue to sell rapidly throughout Northern Virginia, according to December data. In Arlington County, the average days on market (DOM) was 34 days, while both Alexandia City and Prince William County saw DOMs of 37 days. Fairfax County saw a DOM of 40 days, and Loudoun County’s days on market average was 52 days.
Inventory increased in December 2013 when compared to the same month in 2012. Inventory was up by 23 percent in Alexandria City, 21 percent in Arlington County and 11 percent in Prince William County. Loudoun and Fairfax counties saw smaller increases of 6 percent and 3 percent, 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)