How does the Real Estate Market look for Northern Virginia this year?
All of the signs are for a strong market and increasing listing and sales prices. Due to continued low interest rates and low inventories, the demand from buyers will continue to outrun the supply.
The Centreville, VA statistics reflect the overall climate for Northern Virginia:
Total 49 Unit Sales for February 2010
Total 58 Unit Sales for February 2011 – a 9 unit increase from last year
Average sale price for February 2010 was $288,836
Average sales price for February 2011 was $319,093 a dramatic 10.5% increase
Average days on the market listing to contract for February, 2011 was 52
If you are considering selling your home, get ahead of the start of the Spring market, pick a reputable well known and well capitalized company, interview at least 2 qualified agents, prepare your home and sit back and wait for the contracts.
Market data, commentary, and statistics proved by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Area Office, Centreville, VA