Burke, VA (PRWEB) February 25, 2015
Pasquali Realty Group, a Northern Virginia real estate company, states that according to the latest reports gathered from home transactions throughout the region, much of the Northern Virginia region experienced increases in both the number of homes sold and median sale price in January. The Northern Virginia market includes the city of Alexandria and Arlington, Fairfax, Loudoun, and Prince William counties.
Compared to January 2014, the number of units sold in Northern Virginia jumped by 30 percent in Alexandria City, while Prince William County saw a more modest increase of 6 percent. Arlington County experienced a 4 percent increase in the number of homes sold in January, followed by 3 percent in Fairfax County. Loudoun County saw a decrease of 4 percent.
The real estate market in Northern Virginia saw increases in median sale prices in a number of areas when compared to the same month last year, including a 6 percent rise in Arlington County. Prince William County saw median sale price rise by 4 percent, and Fairfax County experienced a 3 percent increase. Alexandria City had a small 1 percent increase in median sale price, while Loudoun County experienced a 4 percent drop.
Inventory increased throughout most of the region, though Alexandria City saw a 6 percent decline. Inventory rose by 12 percent in Prince William County and by 13 percent in Fairfax County. Both Arlington and Loudoun counties saw the largest jumps at 22 percent.
Homes have continued to sell at a solid pace throughout Northern Virginia, according to January data. In Alexandria City, the average days on market (DOM) was 53 days, followed by Fairfax County with a DOM of 56 days. Arlington County experienced an average DOM of 57 days, while Loudoun and Prince William counties followed with DOMs of 59 days and 60 days, respectively.
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).