Since December Statistics are not out yet, I wanted to summarize the numbers from November 2009 for Northern Virginia.
We wanted to compare November 2009 to November 2008. The market has seen an increase in home sales from 1,100 to 1,567 for the month of November.
The active real estate listings are down 27% which is a reflection of buyers buying properties right now. The 2 primary contributing factors to the surge in buying:
1. Tax credit given to first time buyers and buyers who have been in their home for over 5 years
2. Interest Rates- still at all time lows... Most lenders average 5% for the majority of loan options in today's market.
For the detailed numbers click on: November 2009 Real Estate Statistics