Burke, VA (PRWEB) September 30, 2015
According to the latest reports compiled from the residential real estate transactions within the region, most of the Northern Virginia region experienced increases in the number of homes sold in August. The Northern Virginia real estate market includes the city of Alexandria and Arlington, Fairfax, Loudoun and Prince William counties.
Compared to August 2014, the number of units sold increased in the majority of the Northern Virginia region, including an 8 percent jump in Arlington County. Alexandria City and Prince William County both experienced a 7 percent increase, while Fairfax County enjoyed a 2 percent increase. The number of homes sold remained unchanged in Loudoun County.
Median sale prices in the Northern Virginia region varied compared to August 2014, with Alexandria City seeing an increase of 14 percent followed by Arlington County with an increase of 3 percent. Fairfax County experienced a 1 percent dip, Loudoun County experienced a 5 percent drop and Prince William County saw a 6 percent decline.
Inventory also varied within the region, with Loudoun County seeing a decrease of 11 percent and Prince William County experiencing an 8 percent decrease. Alexandria City saw no change in active inventory compared to the previous year, and Arlington and Fairfax counties experienced increases of 5 percent and 9 percent, respectively.
Homes have continued to sell at a quick pace throughout Northern Virginia, according to August data. Arlington County experienced a days on market average of 35 days and Alexandria City experienced an average DOM of 36 days. Fairfax County saw an average DOM of 37 days. Other areas saw DOM averages of 41 days to 47 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).