The Northern Virginia market is currently experiencing the lowest inventory levels we’ve seen in the past 5 years. Prince William County and the Bristow market are also seeing low inventory levels.
When analyzing the statistics, the data shows that Prince William County’s total sales volume has remained steady year after year, the Bristow market has seen a gain of 67%. The Prince William County market experienced a peak in volume in July, 2011, then showed a steady decline through October, and has shown a rapid recovery this past November and December. In Bristow, all indications show that January, 2012 will mirror this trend.
Let’s look at the Stats:
|December 2010||December 2011||% change|
|Total Sales Volume||$6,658,580||$11,153,773||67.15%|
|Avg. sold price||$289,503||$309,827||7.02%|
With interest rates at an all time low, home prices remaining steady, and inventory at a 5 year low, now is the time to make that decision to sell or buy. If you are considering selling and moving up, now is the time.
Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office