Burke, VA (PRWEB) March 29, 2012
Paquali Realty Group, a Northern Virginia real estate company, is pleased to announce that according to the latest market reports, average home prices in Northern Virginia are on the rise. The Northern Virginia real estate market improved compared to the same month last year, according to the most recent reports. In the Northern Virginia counties, including the city of Alexandria and Arlington, Fairfax, Loudoun and Prince William, average sale prices have increased throughout much of the area. Inventories are also decreasing. The market reports are compiled from data from residential real estate transactions within the specific geographic regions.
February data indicates that average sale price increased in many regions of Northern Virginia compared to February of last year, including Prince William County, which experienced a 7 percent increase in average sale price. Alexandria’s average sale price also increased 5 percent from February last year. Fairfax and Arlington counties both experienced a 1 percent increase in average sale price versus this time last year.
In February, available homes for sale in Northern Virginia continued to decrease compared to the same time last year. The area saw reduction in available inventory of more than 15 percent on average, with some areas experiencing more decreases. Fairfax County and the city of Alexandria both experienced decreases of 30 percent versus last year. Prince William County’s inventory decreased 36 percent. Arlington and Loudoun counties also experienced a decrease of available listings.
According to the market report, year-over-year sales have increased in some areas. Arlington County saw a 23 percent rise in units sold versus February 2011. Prince William County also increased sales by 6 percent. On average sellers in the area received roughly 97 percent of their asking price.
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).