Despite a slight year-over-year decline in average sales prices, the Northern Virginia real estate market in 2016 posted its best year since 2005 in both total sales and overall sales volume, according to new figures.


A total of 21,097 residential properties went to closing during the year, up 3.8 percent from the 20,335 transactions recorded in 2015, according to preliminary figures reported Jan. 10 by the Northern Virginia Association of Realtors.

Figures represent sales in Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church.

The average sales price of $556,368 was down 0.1 percent from 2015's record total of $556,995, but still represented the second-highest ever.

Sales in 2016 were the highest since the…

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DC Metro Overview

January 2017’s median sales price of $390,000 was up $14,500 or 3.9% compared to last year.  This is the highest January median sales price of the last decade, topping the prior high of $385,000 seen in 2015. Sales volume across the DC Metro area was nearly $1.5 billion, up 19.5% from last January. Closed sales of 3,014 were up 11.5% compared to last year, also the highest January level in a decade, exceeding the 2,702 sales recorded last January. New contract activity also reached a ten-year January high, increasing by 15.5% versus the snowy January of 2016 to 3,954 contracts. New listings of 4,541 increased 12.8% compared to last year. Active listings of 7,224 are down 12.7% compared to last year and down 3.1% compared to last…

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