Three things that can summarize all about the Northern Virginia Real estate market:

 

7% Increase in median sold price compared to last year of May 2011.

Continuous shrinking inventory of new listings(April down -4.3% & May -2.7%).

And

Number of distressed property sale (foreclosures and short sales) is at the lowest level.
 

 




The increase in the price of the home is across the DC metro area. Here is a chart with year to date in all the major jurisdictions.


Bottom line: Is this the cause of the spring and summer market or things will slow down as the summer housing market tapers off? Lack of inventory has caused some panic in our market. Home that are priced right are getting under contract right away others that are too aggressively price will need adjustment to attract right buyer for their home. Buyers are savvy and caution. Lower interest rate, high rents and strong job market continuous to keep housing market health in Northern Virginia area.

For this market report Northern Virginia market consist of areas of: City of Alexandria, Arlington County, Fairfax City, Fairfax County and Falls Church City.
 
                             
Associate Broker
EcoBroker, ABR, ePRO
NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 


 
 
This post has been included in Virginia Real Estate News
Post is included in group: VIRGINIA
Post is included in group: WHAT'S HOT IN VIRGINIA
Post is included in group: Northern Virginia Real Estate
Post is included in group: HyperLocal Neighborhood and Community Posts

3 Comments on How is the Northern Virginia Real Estate Market as of May 2012?

JUN
12
302,745 Points 27 Featured Posts Outside Blog Called Shot Master

This is good news... Ritu I keep my fingers crossed that it travels East... Have a Happy Day
4:40am • #1
1,519,809 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good mornng, Ritu.... it looks like the real estate market in the Northern VA area is going in the right direction....good for you and your business....
4:49am • #2
955,399 Points 52 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Ritu, it is wonderful to see markets heating up again, and buyers feeling the confidence to purchase homes!   Love your reports!
6:21am • #3


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Img_0001 Rainmaker_large

Ritu Desai-Northern Virginia Realtor Fairfax/Loudoun/PW-703-625-4949

Ashburn, VA

More about me…

Samson Properties

Address: 14526 Lee Road, Suite 100, Chantilly, VA, 20151

Office Phone: (703) 625-4949

Cell Phone: (703) 625-4949

Email Me

Contact Me
Interested in selling or buying your home? Contact me to get a professional estimate.
Profile picture for VARealtor
Ritu Desai
Call: (703) 625-4949
My Chantilly Real Estate Listings on Zillow
Google Groups
Northern Virginia Residential Real Estate
Visit this group
Protected by Copyscape DMCA Violation Tool Locations of visitors to this page


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find VA real estate agents and Ashburn real estate on ActiveRain.