The Northern Virginia real estate market experienced some positive trends in April. According to The Long & Foster Market Minute reports, median sale prices have increased in some areas of the region. The Northern Virginia market includes the city of Alexandria, and Arlington, Fairfax, Loudoun and Prince William counties.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

The Northern Virginia region saw median sale prices increase in some areas compared to the same month in 2013. Alexandria City experienced a 7 percent increase in median sale price, while Loudoun and Fairfax counties saw increases of 4 percent and 3 percent, respectively. Prince William County saw a decrease of 2 percent, while Arlington County experienced a 12 percent decrease in median sale price.

The number of units sold in the Northern Virginia region also increased in some areas. Alexandria City saw a 7 percent increase in homes sold in April compared to the same month last year, and Prince William County experienced a 3 percent increase. Other areas saw the number of homes sold decrease from 8 percent to 14 percent.

Homes continue to sell rapidly throughout Northern Virginia, according to April data. In Fairfax County, the average days on market (DOM) was 29 days, while Arlington County saw a DOM of 31 days. Both Alexandria City and Prince William County saw DOMs of 35 days, and Loudoun County experienced a DOM average of 40 days.

“The spring housing market is beginning to bounce back, and we’re seeing many positive trends happening in the real estate market in the Mid-Atlantic, including in the Northern Virginia region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many places, median sale prices are increasing and homes are selling at a faster pace than in previous months. We anticipate these developments will continue, and we’ll see more great happenings in the real estate market throughout the spring.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.