Burke, VA (PRWEB) March 08, 2012
According to the recent market reports, The Northern Virginia real estate market continued to trend positive in January compared to the same month last year. In the Northern Virginia counties surrounding Washington DC, including Arlington, Alexandria, Fairfax, Loudoun, and Prince William, median sale prices have increased, and homes for sale in Northern Virginia are selling in less than 2 months on average.
January 2012 data shows that median sale price increased in many Counties of Northern Virginia compared to January of last year, including Arlington County, which experienced a 20 percent increase year-over-year. Loudoun County’s median sale price also increased 14 percent from January 2011. Prince William County experienced an 8 percent increase in median sale price versus year-ago levels.
According to the January data homes in the area are selling quickly, with houses selling in less than two months, on average. In both Arlington and Loudoun counties, January’s average time on the market was 53 days. The rest of the region continues to see homes sell quickly as well, averaging 68 days in Alexandria, 60 days in Fairfax County, and 56 days in Prince Williams County.
In January, available inventory continued to fall throughout the entire region compared to the same month last year. Northern Virginia saw decreases in inventory of more than 20 percent on average, with some areas experiencing even larger declines. Prince William County, and Alexandria saw decreases of 38 percent and 36 percent, respectively, versus last January’s levels. Fairfax County decreased 30 percent. According to the data, year-over-year sales were lower in most counties in the region, most likely due to the decline in available listings.
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).