The Northern Virginia region saw little change in median sale prices while still experiencing relatively low days on market in October, 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 in the Northern Virginia region increased by 2 percent in both Arlington and Prince William counties last month, while all other areas, including Alexandria City and Fairfax and Loudoun counties, saw no change year-over-year.

Compared to October 2014, the number of units sold decreased in the majority of the Northern Virginia region, though Fairfax County experienced a 7 percent increase. Both Loudoun and Prince William counties saw a 6 percent decrease, followed by Alexandria City with a 9 percent decrease. In Arlington County, the number of homes sold decreased by 10 percent.

Inventory also decreased in the majority of the region, with Loudoun County seeing a decrease of 13 percent and Prince William County experiencing a 6 percent decrease. Alexandria City saw a 5 percent drop in active inventory compared to the previous year, and Arlington County experienced a decrease of 1 percent. In Fairfax County, inventory increased by 7 percent.

Homes have continued to sell at a steady pace throughout Northern Virginia, according to October data. Arlington County experienced a days on market average of 34 days and Alexandria City experienced an average DOM of 39 days. Fairfax and Prince William counties saw an average DOM of 45 days and Loudoun County saw a DOM average of 57 days.

“Consumer confidence increased once again in October and the labor market’s performing well ”“ both of which are good news for the economy,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “At Long & Foster, business remained steady, including in the Northern Virginia region where we saw steady median sale prices. We predict to see continued stability in housing as 2015 comes to a close.”

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, Inc.