Median sale prices increased in many parts of Northern Virginia in October, and homes are continuing to sell at a steady pace, according to the Long & Foster Market Minute reports. 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.

In Northern Virginia, the real estate market saw increases in median sale prices in most areas when compared to October 2013, including a 7 percent jump in Alexandria City. Both Fairfax and Loudoun counties saw median sale price rise by 3 percent, and Prince William County experienced a 2 percent increase. The median sale price in Arlington County remained the same when compared to the same month last year.

Homes have continued to sell quickly throughout Northern Virginia, according to October data. In Arlington County, the average days on market (DOM) was 35 days, followed by Fairfax County with a DOM of 41 days. Alexandria City experienced an average DOM of 42 days, while Prince William and Loudoun counties followed with DOMs of 43 days and 45 days, respectively.

The number of units sold in the Northern Virginia region decreased in all areas when compared to October 2013, with declines that ranged from 4 percent to 16 percent. Meanwhile, inventory increased throughout the entire region. Alexandria City saw an 11 percent increase, and Prince William County saw an increase of 24 percent. In Fairfax County inventory rose by 29 percent, while it rose by 32 percent in Arlington County and 38 percent in Loudoun County.

“October brought modest improvements to the Mid-Atlantic real estate market, including in the Northern Virginia region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many areas we saw increases in the average sales prices, as well as some positive trends in the number of days homes spent on the market. These are welcome signs for real estate in the region, and with continued improvements being made in the economy, we expect a smooth end to 2014.”

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.