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Real Estate Business Intelligence, which studies our local real estate market with the George Mason University Center for Regional Analysis, has just released some numbers for our market.
- New pending contracts increased by 13%
- The number of closed sales increased by 41.2%
- There are 8,000 active listings, which is a 26.6% increase over this time last year
- Our median sales price of $415,500 is a 4% increase over last year
- Our average days on market is sitting at 67 days, which is a two week decrease from last March
- Buyer demand continues to improve, and seller activity is also beginning to pick up
On top of all of this, mortgage rates continue to be very low, so it is a phenomenal time to purchase a home. If you're looking to buy or sell this spring, now is the time to get prepared. You don't want to miss out on this market!
Contact me now for a free home consultation! I would love to help you sell your Northern Virginia home.
