Burke, VA (PRWEB) May 28, 2014
According to the latest market reports compiled from data from residential real estate transactions throughout the region, the Northern Virginia real estate market experienced some positive trends in April. The Northern Virginia market includes the city of Alexandria, and Arlington, Fairfax, Loudoun and Prince William counties.
The Northern Virginia region saw median sale prices increase in some areas compared to the same month in 2013. Alexandria City experienced a 7 percent increase in median sale price, while Loudoun and Fairfax counties saw increases of 4 percent and 3 percent, respectively. Prince William County saw a decrease of 2 percent, while Arlington County experienced a 12 percent decrease in median sale price.
The number of units sold in the Northern Virginia region also increased in some areas. Alexandria City saw a 7 percent increase in homes sold in April compared to the same month last year, and Prince William County experienced a 3 percent increase. Other areas saw the number of homes sold decrease from 8 percent to 14 percent.
Homes continue to sell rapidly throughout Northern Virginia, according to April data. In Fairfax County, the average days on market (DOM) was 29 days, while Arlington County saw a DOM of 31 days. Both Alexandria City and Prince William County saw DOMs of 35 days, and Loudoun County experienced a DOM average of 40 days.
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).