Burke, VA (PRWEB) August 27, 2015
According to the latest reports compiled from the residential real estate transactions within the region, much of the Northern Virginia region experienced increases in the number of homes sold in July. The Northern Virginia real estate market includes the city of Alexandria and Arlington, Fairfax, Loudoun and Prince William counties.
Compared to July 2014, the number of units sold increased in the majority of the Northern Virginia region, including a 19 percent jump in Fairfax County. Prince William County experienced a 17 percent increase, while Loudoun County enjoyed a 13 percent increase. The number of homes sold increased by 11 percent in Arlington County, and Alexandria City saw a 1 percent decrease.
Median sale prices in the Northern Virginia region varied compared to July 2014, with Arlington County seeing an increase of 10 percent followed by Fairfax County with an increase of 8 percent. Prince William County experienced a 3 percent drop, and both Alexandria City and Loudoun County saw median sale prices fall by 8 percent.
Inventory increased in much of the region, with Loudoun County seeing a decrease of 10 percent and Prince William County experiencing a 1 percent dip. Other areas of the region experienced increases of 9 percent to 13 percent.
Homes have continued to sell at a quick pace throughout Northern Virginia, according to July data. Arlington County experienced a days on market average of 28 days and Fairfax County experienced an average DOM of 31 days. Alexandria City saw an average DOM of 32 days, and both Loudoun and Prince William counties had days on market averages of 36 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).