The Northern Virginia real estate market experienced some positive trends in May. 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. Prince William County experienced a 5 percent increase in median sale price, while Arlington County saw a 1 percent increase and Fairfax County saw no change. Loudoun County experienced a 1 percent decrease in median sale price and Alexandria City experienced a 9 percent decrease.

Homes continue to sell rapidly throughout Northern Virginia, according to May data. In Fairfax County, the average days on market (DOM) was just 23 days, while Arlington County saw a DOM of 27 days and Loudoun County saw a DOM of 29 days. Both Alexandria City and Prince William County experienced a DOM average of 32 days.

The number of units sold in the Northern Virginia region decreased in all areas compared to the same month in 2013. Decreases ranged from 10 percent to 22 percent. Additionally, inventory increased by 19 percent to 31 percent in all areas of Northern Virginia.

“Summer is fast approaching, yet across the Mid-Atlantic, the spring-selling season has yet to fully peak,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “While median sale prices rose in many areas last month, the number of sales declined when compared to May 2013. However, homes are selling quicker than this time last year and inventory is increasing. What we’re seeing is a steadying of the market, which will position the housing industry for future growth.”

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.