Northern Virginia Market Watch Video for September 2011
Reiterating that all real estate is local, and the local forecast continues to outperform the national real estate market. Pending sales were up from last September. In September 2010, the number of pending sales was 2,231 and for September 2011 the number of pending sales was 2,394, an increase of 7.3%. Rock bottom interest rates continue to add fuel to the desire to make a home purchase. The number of homes for sale decreased. In September 2010, there were 11,802 homes on the market, while the number dropped to 9,130 this past September. The median sales price increased from $350,000 in September 2010, to $362,000 in September 2011.
See Also - Northern Virginia Market Watch for July 2011