Northern Virginia Real Estate Market Statistics for April 2013

The following is the Northern Virginia Market Watch video update for April 2013:


Here are the highlights for the April 2013 real estate market:

  • 165,000 jobs were added to the economy between March and April
  • Government employment continued to decline on federal, state, and local levels
  • Unemployment rate fell to 7.6%
  • Housing activity continues to be a bright spot for the recovery, sales volume and prices continued to increase, however there is some concern that investors are ‘propping up’ some local markets
  • Economic growth in Northern Virginia is slower than last year.15,000 jobs were added in the last 12 months. Unemployment dropped from 4.3% to 3.9%
  • April sales were 12% higher than this time last year, the highest April level seen in three years.
  • New contracts were up 12% over last year, after five consecutive months of decline.
  • Active listngs were 25% lower than this time last year,the lowest April level in 8 years.
  • New listings were up 17% from April 2012.  Sellers are starting to be drawn into the market with higher sales prices and faster sales times.
  • The median sales price is up 8% from April 2012, the highest the region has seen since fall 2007.
  • Median days on market is now 9 days, the lowest since 2005.
  • While active listings remain low, the rise in new listings may be the sign of a changing pattern.

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