There is a good chance you've been hearing about how hot the real estate market is. It's true! Below are some of the latest statistics for the Northern Virginia Market to give you a better idea of the current market conditions.
Inventory of available homes remains low (Active Listing) while demand remains high (Closed Sales). In March 2018, there was a 1.7 month supply of homes on the market in the Northern Virginia Area (April stats not yet available). This is well below the 6 month supply that many real estate professionals consider normal, fewer homes for sale generally indicates a seller's market.
Additionally, the median sold price for all regions in Northern Virginia has risen from YTD 2017 to YTD 2018 (1st QTR).
If you would like market statistic for your neighborhood/area you can give me a call or visit my Market Update page on my website at www.homesforsalenorthernvirginia.com/search/market_report_search/ to subscribe to a free monthly market report for your neighborhood/area.