Burke, VA (PRWEB) July 30, 2015
According to the latest reports compiled from the residential real estate transactions with the region, much of the Northern Virginia region experienced increases in the number of homes sold in June. The Northern Virginia real estate market includes the city of Alexandria and Arlington, Fairfax, Loudoun and Prince William counties.
Compared to June 2014, the number of units sold increased in the majority of the Northern Virginia region, including a 22 percent jump in Arlington County. Fairfax County experienced an 18 percent increase, while Prince William County enjoyed a 9 percent increase. The number of homes sold increased by 7 percent in Loudoun County, and Alexandria City saw a 2 percent decrease.
Median sale prices in the Northern Virginia region varied compared to June 2014, with Alexandria City and Arlington County seeing increases of 3 percent and 2 percent, respectively. Prince William County experienced no change year-over-year, Fairfax County saw a 1 percent dip and median sale prices in Loudoun County fell by 5 percent.
Inventory increased in most of the region, with Loudoun County seeing the area’s only decrease of 5 percent, followed by Prince William County with a 1 percent increase. Other areas of the region experienced increases of 7 percent to 14 percent.
Homes have continued to sell at a quick pace throughout Northern Virginia, according to June data. Fairfax County experienced a days on market average of 27 days and Prince William County experienced an average DOM of 32 days. Both Arlington County and Alexandria City saw average DOMs of 34 days, and Loudoun County had a days on market average of 35 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).