Burke, VA (PRWEB) April 26, 2012
According to the recent market reports, The Northern Virginia real estate market continued to experience many positive trends in March compared to the same month last year. In the Northern Virginia counties surrounding Washington DC, including Arlington, Alexandria, Fairfax, Prince William and Loudoun, median sale prices have increased, and homes are selling in less than 60 days on average.
March data indicates that median sale price increased in some areas of the Northern Virginia compared to March of last year, including Prince William County, which experienced a 17 percent increase in median sale price year-over-year. Arlington and Fairfax counties each experienced an 8 percent increase in median sale price versus year-ago levels.
Homes continue to sell quickly throughout Northern Virginia, according to March data, with houses selling in less than 60 days, on average. Alexandria City had the highest average of days on market (DOM) in the region at 60 days. Prince William County saw the shortest marketing time with an average days on market (DOM) of 44 days.
In March, active inventory levels continued to fall substantially throughout the Northern Virginia region compared to the same month last year; with double digit decreases throughout. The region saw decreases in inventory of more than 16 percent on average, with some areas experiencing more significant tightening. Prince William County experienced the largest year-over-year decrease, with inventory down 36 percent. Alexandria City inventory decreased 32 percent year-over-year.
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).