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 February, to $552,942. This is up 2.88 percent compared to February 2016, when the average price was $537,464.
The median sold price of homes this February, which was $465,700, rose by about 3 percent compared to the median price of $451,250 in February 2016.
The 1,832 new pending home sales in Northern Virginia in February marks an increase of 5.35 percent compared with 1,739 contracts that were pending in February last year. Total pending sales in February were up by almost 3 percent, to 2,411, compared with 2,341 pending contracts in February 2016.
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