The Northern Virginia Association of Realtors® reports on February 2017 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.

A total of 1,192 homes sold in February 2017, a 7.58 percent increase above February 2016 home sales of 1,108.

Active listings decreased this month compared with 2016. Listings were down about 12 percent below last year’s, with 2,974 active listings in February, compared with 3,375 homes available in February 2016. The average days on market (DOM) for homes in February 2017 was 67 days, a decrease of 16.25 percent compared to the 80 DOM for homes in February 2016.

The average home sale price rose compared with last…

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February 2017's median sales price of $399,700 was up $19,700 or 5.2% compared to last year.  This is the highest February median sales price of the last decade, exceeding the prior high of $390,000 seen in 2015.    Sales volume across the DC Metro area was nearly $1.59 billion, up 16.7% from last February. Closed sales of 3,098 were up 7.8% compared to last year, also the highest February level in a decade, and exceeding the 2,874 sales recorded last February.   Pending sales also reached a ten-year February high at 4,656, increasing by 2.7% over last year. New listings of 5,560 increased 7.5% compared to last year. Active listings of 7,503 are down 9.5% compared to last year, although up 3.9% compared to last month.    This is the…

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