Deniece Mayberry
Associate Broker/RealtorĀ®
(703) 451-0677

NORTHERN VIRGINIA REAL ESTATE

MARKET DATA

As of March 15, 2015

Three-minute market data video provided by Real Estate Business Intelligence that describes the basic statistics of the Northern Virginia real estate market.  The Northern Virginia market are the counties and cities of Arlington, Falls Church, Alexandria, Fairfax, Prince William, Manassas, Manassas Park, Loudoun and Fauquier.

 

Number of listings that sold in the past months by house type.  Single Family homes outpace townhouses and condos in the Northern Virginia market.

 
 
Chart showing the number of homes that are currently listed for sale on the local multiple listing system by house type (single family, townhouses and condominiums) and how many were listed in the past year.
 
 
There is only 2 months supply of inventory in the Northern Virginia market which is great news for sellers.  Here's the definition of "Months Supply of Inventory" - This number tells you how many months it would take for all the current homes for sale on the market to sell, given the sales rate for that market. RBI's calculation takes into account the seasonal fluctuations of selling activity by applying the average sales rate of the prior 12 months. Months Supply of Inventory = (# Active Listings at month's end) / (Average Sales rate of prior 12 months). In DC Metro 3 to 5 Months is generally considered a balanced market; less than 3 months a sellers' market as there are more buyers than homes available; more than 5 months can be considered a buyers' market as there are more homes for sale than buyers to purchase them.
 
 
Number of days on the market by price range.  The number of days that a home is on the market before a contract has been ratified has improved from last year at this time except for those homes in the upper price ranges.
 
It's important to price your home right at the very beginning.  The longer the home is on the market, the less you'll get for it.  This is the average sales price to original list price ratio.

Deniece Mayberry, Associate Broker/RealtorĀ®

8442 Old Keene Mill Road, Springfield, VA 22152

VA License Number: 0225059953

RE/MAX Executives