Burke, VA (PRWEB) May 30, 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 April. 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 a 13 percent rise in Arlington County. Prince William County saw median sale price rise by 6 percent, and Fairfax County experienced a 3 percent increase. Loudoun County saw a 3 percent drop, while Alexandria City’s median sale price decreased by 10 percent.
Compared to April 2014, the number of units sold in Northern Virginia varied, increasing by 5 percent in both Fairfax and Prince William counties. Loudoun County followed with a 2 percent increase, while Alexandria City saw a 3 percent decrease. Arlington County experienced a 10 percent decrease in the number of units sold.
Inventory increased throughout the region, including by 25 percent in Arlington County, 23 percent in Fairfax County and 20 percent in Loudoun County. Both Alexandria City and Prince William counties saw active inventory increase by 6 percent compared to the same month last year.
Homes have continued to sell at a solid pace throughout Northern Virginia, according to April data. In Fairfax County, the average days on market (DOM) was 33 days, followed by Arlington County with a DOM of 34 days. Alexandria City experienced an average DOM of 41 days. In Prince William County the average DOM was 44 days, followed by 51 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).