NORTHERN VIRGINIA HOUSING MARKET TRENDS IN MAY 2015
This information is provided by REAL ESTATE: Business Intelligence.
The report is on the Northern part of Virginia featuring areas like Alexandria City, Fairfax City, Falls Church City, Arlington County, Fauquier County, Manassas City and a few others.
The Housing market in May 2015 for Northern Virginia has seen a 5.5% rise in price annually.
Despite this rise in price, affordability remains good due to the constant interest rate with the only problems being lack of inventory and continued tight credit.
• New Pending Sales reached the highest levels over 4000 pending sales a 10% increase from last year’s figures.
• Closed Sales were over 3,500 and an increase of 8% from last year’s figures.
• Active Listings were over 10,000 listings at the months end, 21% more than last year.
• New Listings at the end of the month represented a 4% rise from last year’s figures.
• Median Sale Prices increased by 3.5% from last year
• Median Days On Market (DOM) was at a 14days a 2day rise from last year.