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Fairfax, Loudoun County Virginia -Residential Real Estate Market Blog

Keep yourself up to date with the Northern Virginia Real Estate market and other local Northern Virginia information. Have a question or thinking about buying or selling home call Ritu Desai at Samson Properties at 703-625-4949 or email me at Info@eNOVAHomes.com.

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  • Northern Virginia -Fairfax, Loudoun, Alexandria, Arlington & Prince William Blog, real estate Market condition written by Ritu Desai at Samson Properties.

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DC Metro November 2011 Real Estate Market: Foreclosed Sales/Inventory (Way) Down, Short Sales Up

As we touched on in the November DC market analysis, there has been a significant drop-off in market activity for foreclosed properties. The top four graphics highlight this decline, but you'll also notice an uptick in short sales during the same time period. The last two graphs illustrate how these shifts can impact median sales price trends.  Note that the median sales price for "standard" sales (those not involving a short sale or foreclosure) is up 3.4% compared to November 2009 while the median sales price for bank-mediated inventory is down significantly over the same period: 23% decline for foreclosures, 20% decline for short sales.

 


 

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