The housing market in northern is seeing some pretty positive activity and trends according to a recent Long & Foster report. Those of you who are moving in northern VA, there is some good news. The report looks at year over year statistics for median home sales price and also time on the market.

Here is how Fairfaxnews.com reported it…

The Northern Virginia real estate market experienced some positive trends in August. According to The Long & Foster Market Minute reports, median sale prices increased in some parts of the region, and homes are continuing to sell at a rapid pace in the region, which includes the city of Alexandria, and Arlington, Fairfax, Loudoun and Prince William counties.

Median sale prices in the Northern Virginia region increased in a number of areas compared to the same month in 2013. Prince William County saw an increase of 4 percent, followed by Arlington County with a 3 percent increase. Fairfax County experienced a 2 percent improvement. Median sales prices in Loudoun County and Alexandria City, however, declined by 1 percent and 5 percent, respectively.

Homes have continued to sell rapidly throughout Northern Virginia, according to August data. In Arlington County, the average days on market (DOM) was 32 days, followed by Fairfax County with a DOM of 34 days. Both Alexandria City and Prince William County experienced average DOMs of 36 days, while Loudoun County saw a DOM of 46 days.

There is some rumblings out there about a cooling off in the housing market. There was such a pop in home values earlier this year, many home sellers priced their homes too high, and have had to make pricing corrections in order to get a contract. This adds to time on the market.

We hope the market doesn’t build too much inventory over the winter time and that will further deflate the value gains from early 2014. That remains to be seen.

According to The Centreville Independent:

Sellers should expect their homes to take a bit longer to sell. Year to date the average days on market are 44 in comparison to 37 last year. The good news is that our property prices appear to be stable with a median sold price at 1.92 percent over last year.

In all, northern Virginia home buyers and sellers can expect a bit more stability than in the past. And of course, both buyers and sellers need a good moving company – that’s where we come in…wink, wink.

Moving in Northern VA? The Housing Market is Going Strong…