Here They Are: the Latest Northern Virginia Residential Real Estate Statistics – November

Here we are just about at year end and the numbers for November sales for Northern Virginia are in.  

For the first month in a long time there have been some downward trends in Arlington County.   It’s actually mixed news. The number of homes that were sold in November were up over October by 9 percent which is a healthy margin, but on the flip side, selling prices were down.  

Both the median and average home price in this area have dropped, but the current average price in the County remains within five percent of the five year average sales price.  Overall, that has to be good news in a nation where there has been double digit drops in many markets.  The median five year average sales price in Arlington is $468,510, compared to the current figure of $443,050. 

Fairfax County had an increase in homes sales for November, as well.  This is promising to see when we typically see the month of November and December have a slow down in sales due to the holiday seasons.  Fairfax County had slight increases in the home prices both median and average.

Falls Church City appears to have had a major swing in prices, but it’s on a very  small number of homes..  I mentioned last month that the increase in average sales price and median sales prices in this area was pumped up due to a few expensive homes that had sold.   This month the figures are more inline with the typical sales prices.  So don’t let the drop in stats alarm you if you’re buying or selling in this area.

The overall figures for Northern Virginia reflect no significant changes.  This is definitely a healthy sign that the market is not stagnating particularly during the slow down.

I’ve got some business in the works for the new year including a new listing and multiple buyers ready to start looking.  My crystal ball isn’t polished so I can’t see clearly what the future will bring, but I am hopeful that it will at least be steady.

Best Wishes to everyone for a Happy & Healthy holiday season.  I’ll be around during the holidays, so if a new home is on your wish list, let’s make that happen!