Northern Virginia and Rappahannock Region Real Estate Statistics
The national housing statistics provided by National Association of Realtors for October 2013:
There was an 10.7% increase in existing home sales, and 11.7% increase in home prices compared to October 2012.
The Metropolitan Regional Information Systems, Inc. (MRIS) October 2013 data for the Northern Virginia Region (Alexandria, Arlington, City of Fairfax, Fairfax County, Falls Church, Fauquier County, Loudoun County, Manassas, Manassas Park, & Prince William County). All statistics are compared to October 2012.
- Closed sales increased by 11%. This was the highest number of transactions in 4 years.
- New pending contracts decreased by 6.6%.
- Active listings increased (3 straight months) 17.1%.
- New listing increased by 13.4%. This is the seventh straight month of increasing listings compared to last year.
- The median sales price increased by 5.8%. This is a $22,000 average price gain, raising the median sales price to $400K. This is the highest median October sales price in 6 years.
- The average number of days on market for homes receiving ratified contracts in October 2013 was 17 days. This is 4 days fewer than last year, and the the lowest October days on market since 2004.
Crosspointe subdivision in Fairfax Station is a highly sought after community of 1,400 homes, mostly single family and estate series homes located near Laurel Hill Golf Course, Burke Lake Park, and Fountainhead Regional Park. Community amenities include 2 swimming pools, 6 tot lots, 8 tennis courts, 5 multipurpose courts, 2 ponds (fishing available), miles of community and county walking trails. Silverbrook Elementary School and South County Secondary School are located inside Crosspointe. There are numerous shopping choices for residents nearby on Silverbrook Road.
Click here to view the video report for Northern Virginia statistics.
This is the real estate data for the Rappahannock Region (Caroline County, Culpeper County, Fredericksburg, King George County, Madison County, Orange County, Rappahannock County, Spotsylvania County, and Stafford County). All statistics are compared to October 2012.
- Closed sales increased by 1.2%. This is the highest October total in 4 years.
- New pending contracts decreased by 12.9%.
- Active listings increased by 19.1%. This is the fifth straight month of increasing inventory. These figures are still 55% lower than the highest inventory occurring in June 2007.
- New listings increased by 11.0%. This is the seventh straight month of new listing increases.
- The median sales price increase 9.8%. This is a $21,000 average price gain, raising the median sales price to $236,000. This is the highest median sales price in 6 years.
- The average number of days on market for homes receiving ratified contracts in October 2013 was 41 days. This was an additional 12 days on market compared to last year.
Click here to view the video report for Rappahannock Region statistics.
Lee’s Parke in Spotsylvania County Parkway and Jefferson Davis Highway (U.S. Route 1 & 17). Lee’s Parke single family subdivisions include: The Falls, The Estates, & Virginia Heritage (gated 55+ community). Lee’s Parke is convenient to shopping and entertainment at Cosner’s Corner, Spotsylvania Towne Centre, Central Park, & Downtown Fredericksburg, transportation (I-95 & Virginia Railway Express).
The Northern Virginia and Rappahannock Region housing summary: Buyer and seller activity continues to improve. Transactions, new pending sales, and median sales price have all increased compared to this time last year. Listing inventory has increased from last year but remains low. This may temper the rate of growth for median sales price.
Contact us if residential real estate in the Northern Virginia and Fredericksburg regions is in your future.