Northern Virginia Home Sales Improving
While our market has faired pretty well compared to many other markets, I'm still happy to report some great news... Northern Virginia Home Sales are Improving!
Monthly volume for home sales in the broader Northern Virginia suburbs stayed put at over $1 billion in December, 2012, aided by growth both in the number of properties sold and the average sales price they brought.
Based on figures reported January 10th by RealEstate Business Intelligence, an arm of the local MLS, a total of 2,289 properties went to closing during the month. That’s an increase of 5.4% from the 2,172 transactions that closed in December 2011. This is excellent news for Northern Virginia home sellers and a great indicator that our market is improving.
The data represents home sales in the Northern Virginia communities of Arlington, Fairfax, Fauquier, Loudoun and Prince William counties and the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park.
Sales prices also indicated continuing and improving strength, with the average price of all properties that sold during the month standing at $459,318, a spike of 13% from the $406,357 reported in Januaury, 2011. Average home prices were up in all three branches of the Northern Virginia market as well:
- The average sales price of single-family homes in Northern Virginia was $582,393, an increase of 13.1%.
- The average price of attached homes in Northern Virginia grew 9.5% to $335,919.
- The average price of condos was up 11.2% to $285,178.
The median price of all homes in Northern Virginia that sold during the month was $385,000, an increase of 10.7% from the previous year.
Homes that sold throughout Northern Virginia during the month of December reaped 96.7% of thier original list price, up from 95.1% the previous before. These homes spent an average of just 54 days on the market between listing and an approved offer, down from 68 days the year before.
I would love the opportunity to show you how, through strategic pricing, proper condition and staging, and expert marketing you are likely to get your home sold quickly and for top dollar in today's Northern Virginia real estate market. I know this area, the homes here, and what it takes to sell them. I would be happy to provide you with information related to the marketability of your home or real estate in general. To learn more about Northern Virginia, I invite you to visit my website and become a Northern Virginia Market Insider today!
Brittany Salem provides an exceptional level of real estate services to home buyers and sellers in Northern Virginia and Washington, DC. Visit www.brittanysalemproperties.com to search for homes and get community information for Arlington, VA, Fairfax County, Washington, DC, Viena, VA, McClean, VA, The Odyssey Condominiums, The Continental, Barrister's Place, Carper's Farm, Lillian Courts, Reserve at Tysons, West Lewinsville.
Comments(2)