Burke, VA (PRWEB) July 23, 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 June. Homes are selling quickly throughout the area, and median sale prices have increased in some parts of the region. 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. Arlington County saw a large increase in median sale price of 10 percent, and Fairfax County experienced a 1 percent increase. Loudoun and Prince William counties each saw small decreases of 2 percent, while Alexandria City experienced a 3 percent decrease.
Homes are continuing to sell rapidly throughout Northern Virginia, according to June data. In Arlington County, the average days on market (DOM) was just 20 days, followed closely by Fairfax County at 23 days. Prince William County saw a DOM of 30 days, Loudoun County experienced an average of 31 days and Alexandria City saw a DOM of 32 days.
The number of units sold in the Northern Virginia region decreased in all areas compared to the same month in 2013. Decreases ranged from 5 percent to 18 percent. Additionally, inventory increased by 15 percent to 41 percent in all areas of Northern Virginia.
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).