How is the Northern Virginia Real Estate Market as of May 2012?
Three things that can summarize all about the Northern Virginia Real estate market:
7% Increase in median sold price compared to last year of May 2011.
Continuous shrinking inventory of new listings(April down -4.3% & May -2.7%).
And
Number of distressed property sale (foreclosures and short sales) is at the lowest level.
The increase in the price of the home is across the DC metro
area. Here is a chart with year to date in all the major jurisdictions.
For this market report Northern Virginia market consist of areas
of: City of Alexandria, Arlington County, Fairfax City, Fairfax County
and Falls Church City.
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