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The latest real estate numbers for Northern Virginia just came out, so I wanted to take a second of your time to update you on them.
- New pending contracts increased by 9% from 2014
- The 4,308 new pending sales was just above our five-year average
- The number of closed sales increased by 17% to 3,118
- Inventory went up for the 21st consecutive month, and we have 9,522 listings right now
- Median sales price of $425,000 remained the same
- Half of the homes sold in April were on the market for 53 days or more
In summary, the spring market is here, and we have a very large amount of inventory. Buyer demand is continuing to improve, so it's a great time to buy or sell, especially when you consider that interest rates are still sitting at historic lows.
Please don't hesitate to contact me if you need any help buying or selling real estate in Northern Virginia. I am always more than happy to help you!
