The Northern Virginia Real Estate Market So Far – August 2016
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The Northern Virginia Real Estate Market So Far – August 2016 remains steady despite a serious lack of available housing inventory. The average sales price is up slightly over the same period last year for homes sold in Northern Virginia and Prince William County. Solid employment figures and low interest rates continue to help the market, according to Ryan Conrad, CEO of the Northern Virginia Association of Realtors (InsideNova.com).
Year-to-Date Market Stats
Arlington, Alexandria, Falls Church, Fairfax
Year-to-Date Market Stats
Prince William County
SOLD DOLLAR VOLUME: The Northern Virginia Real Estate Market So Far – August 2016
For the first eight months of the year, the NVAR* region’s total sales volume is up 4.04% with $8,485,649,762 total sales this year vs. $8,156,321,287 from 2015. PWAR** is up even more, a whopping 8.79% with $2,038,492,161 for the time period vs. 2015’s $1,873,867,520.
*(NVAR) Northern Virginia Association of REALTORS® covers Arlington & Fairfax Counties; cities of Alexandria, Falls Church, Fairfax; and towns of Vienna, Herndon and Clifton. **(PWAR) Prince William Association of REALTORS® reports figures for Prince William County, Manassas City and Manassas Park
NUMBER OF UNITS SOLD: The Northern Virginia Real Estate Market So Far – August 2016
RealEstate Business Intelligence (RBI), the research branch of the local multiple-listing service, reports that year-to-date through August, the NVAR* region units sold totaled 15,149 homes, up 4.01% from the 14,565 transactions recorded for the same period in 2015. PWAR** year-to-date units sold increase was markedly sharper, rising 6.61% from 5,399 to 5,756.
Competition is tight for many homes, especially entry level homes. Contact me if you are thinking about moving from your home!
DAYS ON MARKET (Sold): The Northern Virginia Real Estate Market So Far – August 2016
NVAR
| Days on Market | Sold |
| 0 | 660 |
| 1 to 10 | 5,047 |
| 11 to 20 | 1,996 |
| 21 to 30 | 1,280 |
| 31 to 60 | 2,266 |
| 61 to 90 | 1,242 |
| 91 to 120 | 827 |
| 121 to 180 | 885 |
| 181 to 360 | 811 |
| 361 to 720 | 125 |
| 721+ | 10 |
PWAR
| Days on Market | Sold |
| 0 | 203 |
| 1 to 10 | 1,789 |
| 11 to 20 | 844 |
| 21 to 30 | 490 |
| 31 to 60 | 899 |
| 61 to 90 | 523 |
| 91 to 120 | 311 |
| 121 to 180 | 353 |
| 181 to 360 | 297 |
| 361 to 720 | 45 |
| 721+ | 2 |
Download the complete market stat reports to see the numbers behind The Northern Virginia Real Estate Market So Far – August 2016
Year-to-Date Market Report January-August 2016 Northern Virginia Association of REALTORS®
Year-to-Date Market Report, January-August 2016, Prince William Association of REALTORS®
*(NVAR) Northern Virginia Association of REALTORS® covers Arlington & Fairfax Counties; cities of Alexandria, Falls Church, Fairfax; and towns of Vienna, Herndon and Clifton. **(PWAR) Prince William Association of REALTORS® reports figures for Prince William County, Manassas City and Manassas Park
