Northern Virginia Homes Blog

Home sales in Northern Virginia have remained on pretty much a flat line the past few months. With inventory dwindling and prices returning, the spring market should bring much more robust activity. From November 2008 – November 2009, in Prince William County the average sold price increased $30,000 or 14.4%. Fairfax County had no measurable change. Of course, prices are 56% less in Prince William as a result of soaring foreclosures the past few years. This current trend of price improvements should help be aided by the tax credits that are due to expire in April 2010. Affordabilty is at an all time high. That is, if you can find a home that does not have multiple offers immediately after being listed.

Graphs are courtesy of MRIS.