Burke, VA (PRWEB) April 29, 2015
According to the latest reports compiled from the residential real estate transactions with the region, portions of the Northern Virginia region experienced increases in median sale price in March. The Northern Virginia market includes the city of Alexandria and Arlington, Fairfax, Loudoun and Prince William counties.
The Northern Virginia real estate market saw increases in median sale prices in a number of areas when compared to the same month last year, including an 11 percent rise in Arlington County. Alexandria City saw median sale price rise by 8 percent, and Fairfax County experienced a 4 percent increase. Prince William County experienced no change, while Loudoun County had a small 1 percent decrease in median sale price.
Compared to March 2014, the number of units sold in Northern Virginia varied, increasing by 6 percent in Arlington County. Prince William County experienced no change in the number of homes sold, while other areas of the region saw decreases of 3 percent to 16 percent.
Inventory increased throughout much of the region, including by 15 percent in Fairfax County, 19 percent in Arlington County and 21 percent in Loudoun County. Alexandria City experienced a 7 percent decrease in active inventory, while Prince William County saw no change compared to the same month last year.
Homes have continued to sell at a solid pace throughout Northern Virginia, according to March data. In Arlington County, the average days on market (DOM) was 37 days, followed by Alexandria City with a DOM of 43 days. Fairfax County experienced an average DOM of 46 days. In Prince William County the average DOM was 53 days, followed by 54 days in Loudoun County.
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).