Washington, DC - (July 12, 2018) - The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.   June's median sales price was $603,375, beating last year's median and showing the highest June level on record. The 890 June sales represented a 1.2 percent decrease versus last year and above the June five -year average of 880. Even with the median sales price at record highs, supply is scarce with only 2.0 months of supply on hand. There was a 1.5 percent bump in contract activity compared to last June. The 1,002 overall new pending sales topped the five-year…

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June Home Sales Dip 5 Percent, New Contracts Rise 5 Percent, Housing Supply Still Lean as Slower Summer Months Approach,
 Lenders Offer New Products for Interest Rate Locks Reports the Northern Virginia Association of Realtors®   Fairfax - Even though the housing market nationally has leveled off, Northern Virginia buyers successfully closed on 2,581 homes in June. These sales amount to a modest decrease of 5 percent compared to the 2,718 homes sold one year ago. This is no cause for concern when looking at the big picture of Northern Virginia home sales trends this year.   "The slight decline in this past month's home sales reflects that summertime is upon us, people are busy with plans, and clients…

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Independence Day is one of the important days in the history of any country. 4th Of July is therefore an important day for the residents of the United States as the country became free and declared its independence on this special day. This independence was first enjoyed in the year 1776 and could be possible only by the efforts made by the leaders and the great personalities. Their efforts as well as sacrifices finally broke the chains to become a free nation. 
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The single biggest issue on most home sellers' minds is how to achieve the highest sale price possible in the least amount of time.  Well, we set ourselves…

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May Home Sales Remain Brisk as Spring Season Ramps Up,
Condo Sales Strong, Moderate Economic Growth Expected
Reports the Northern Virginia Association of Realtors® 

Fairfax – Americans are paying a little more for housing this year as demand has been brisk, and serious buyers know that stalling a home purchase means higher prices. Northern Virginia buyers get this too, as Fairfax County, Arlington, Alexandria and Falls Church reached a combined 2,459 transactions in May. This movement reflects a slight dip of under 3 percent compared to the 2,526 homes sold in May 2017 in the NVAR footprint.

“With our Northern Virginia local economy in a great place regarding employment numbers, we do not think our region’s economy is at risk to overheat any time…

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According to the Virginia REALTORS March 2018 Home Sales Report, performance of the March residential real estate market slowed as a tight inventory supply and higher prices pinched the market. March 2018 volume (the sum of all sales) increased 1.0 percent over the same period in 2017, from $3.255 billion in March 2017 to $3.288 billion in March 2018. Typical of industry seasonality, volume rose from the prior month by 47.9 percent (from $2.223 billion in February 2018).

Also in accordance with historical seasonality trends, the number of transactions in March increased month-over-month by 40.6 percent (from 6,941 to 9,759) as the Spring selling season has begun. However, year-over-year sales in March dropped 2.6 percent from their 2017 benchmark…

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April Had Cool Temps But Market Heated Up:  Record Overall Sales in Northern Virginia; Total Active Listings, Pendings Have Room to Grow, Reports the Northern Virginia Association of Realtors®   Fairfax - April home sales numbers hit a record high for the past decade in the combined area of Fairfax County, Arlington County, Alexandria and Falls Church, with 2,079 sales, which is 4 percent higher than the 1,996 homes sold last year at that time.

"While we are nearing  the height of the spring season, we have already reached a high water mark this year with April's  sales,"

said Lorraine Arora, NVAR chairman of the board and Weichert Fairfax Regional managing broker. "It is actually the best April in the last decade for the total…

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March 2018 Washington, DC Market Trends Report Median sales price reaches highest March level on record; supply continues to be scarce

Washington, DC - (April 11, 2018) - The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.   March's median sales price was $555,451, showing an increase of 3.8 percent over last year's median and is the highest March level on record. The 708 March sales represented a 9.0 percent decrease versus last year (the highest March value since 2005) and is 7.7 percent above the March 5-year average of 657. Even with the median sales price at record highs,…

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Monetary Policy, Tax Changes Do Not Affect Northern Virginia's Serious Clients, March Home Sales Track Evenly with Last Year, Reports the Northern Virginia Association of Realtors® Fairfax - March home sales numbers in the combined area of Fairfax County, Arlington County, Alexandria and Falls Church totaled 1,768 sales, which is close to the 1,779 homes sold last year in March. This volume of transactions in the Northern Virginia Association of Realtors® region reflects stability: demonstrating that qualified clients are proceeding with their housing decisions regardless of interest rates or tax bill change news, said NVAR Chairman of the Board Lorraine Arora. "That said, we see caution in some buyers since our region's home prices…

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Lean Inventory for Northern Virginia Buyers Sparks Competition for Available Homes,   Reports the Northern Virginia Association of Realtors®   Fairfax - With interest rates rising and the inventory of available homes diminishing, the pace of home sales in Northern Virginia has slowed compared to last year, said Lorraine Arora, the 2018 Northern Virginia Association of Realtors® Chairman of the Board and Weichert, Realtors®   Fairfax regional managing broker. However, home values are holding, with the median price 7.37 percent above February 2017, at $500,000, and homes are selling at an average of 97.7% of the original listing price.   "National inventory constraints continued to challenge Northern Virginia buyers in February,"…

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Tax Reform Impacts Not Hindering Northern Virginia Buyers, Sellers; January's Home Average, Median Sales Prices Climb 3 Percent,   Pending Contracts Rise 15 Percent; Economic Outlook Remains Favorable, Reports the Northern Virginia Association of Realtors®   Fairfax - While 2017 homeownership rates have reached the highest level since mid-2014 according to Census Bureau data, and 2017 home prices reached new highs for the past decade, we are starting this year off with solid rises in home values, said Lorraine Arora, the 2018 NVAR Chairman of the Board and Weichert, Realtors® Fairfax regional managing broker.   "With our local economy thriving, the nominal predicted interest rate hikes are a signal of our strong national…

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