The Northern Virginia region experienced an increase in median sale prices of homes in April, 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 based on data provided by Metropolitan Regional Information System and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Median sale prices rose in the Northern Virginia region in April compared to year-ago levels. Arlington County saw a 14 percent increase, followed by Alexandria City with a 9 percent increase. In Loudoun County, the median sale price rose by 8 percent, while it increased by 6 percent in Fairfax County. In Prince William County, the median sale price increased by 4 percent.

In April, the number of homes sold in the Northern Virginia region varied, with Alexandria City experiencing a 7 percent increase, and Loudoun County seeing a 5 percent increase. In Prince William County, the number of homes sold rose by 1 percent. In Fairfax and Arlington counties, the number of homes sold fell by 2 percent and 7 percent, respectively.

Active inventory fell throughout the Northern Virginia region last month when compared to April 2016. In Prince William County, active inventory decreased by 27 percent, and in Loudoun County, it fell by 25 percent. Active inventory decreased by 24 percent in Fairfax County, and by 20 percent in Arlington County. Alexandria City experienced a 9 percent decline in active inventory.

Homes in the region sold within a month or less on average, according to April data. Loudoun County experienced the lowest days on market (DOM) average at 24 days, followed by Fairfax County with a DOM average of 26 days. Both Arlington County and Alexandria City had a DOM average of 27 days, and in Prince William County the DOM average was 30 days.

“April was a solid month at Long & Foster and, despite the lacking inventory that most areas are experiencing, we saw numerous positive indicators of growth in the real estate market, including in the Northern Virginia region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Market conditions are creating a lot of competition for homes, but we know our family of experienced, professional agents can help homebuyers succeed in finding not only a place to live, but a home they’ll love.”

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. Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate.