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Northern Virginia Market Quarterly - 1st Quarter 2012
April 27th, 2012 11:13 PM

Let's take a look at the first quarter 2012...

 

There were a total of 4,757 single family residential sales in the Northern Virginia real estate market in the 1st quarter 2012, up from 4,702 sales in the 1st quarter 2011 and down from 5,036 sales in the 4th quarter 2011.  

The average sold price for single family residential properties was $447,423, up from $432,231 year-over-year.  Days-on-market ranged 0-1,551 days with an average DOM of 55 days.  The average sold price as a percentage of the average sold price was 95%, unchanged year-over-year.

Condominium sales came in at 1,245 units, down from 1,391 units for the 4th quarter 2011.  The sold price ranged $30,000 - $4,200,000 with an average sold price of $259,154. This compares to an average sold price of $256,295 during the same period a year ago.

Total sold dollar volume went from $647,564,109 in January to $998,853,846 in March for a total volume for the quarter of $2,372,879,010, up $158,935,398 year-over-year.   The median sold price has increased from $344,750 in January to $365,000 in March.

The Northern Virginia real estate market includes: Alexandria City, Arlington County, Fairfax County, Fairfax City, Falls Church City, Fauquier County, Loudoun County, Manassas City, Manassas Park City, and Prince William County.

Alexandria City Real Estate:

There were a total of 204 single family residential sales in the City of Alexandria for the 1st quarter, down from 221 sales in the 4th quarter 2011 and down from 220 units sold year-over-year. The sold price range was $190,000 - $2,200,000 with an average sold price of $591,923 down from and average sold price of $617,120 year-over-year.

The median sold price was $542,500 in the 1st quarter, down slightly $557,750 year-over-year. The median sold price as a percentage of the  original median list price was 99%. The days-on-market has ranged from 0 - 639 days with a median days-on market of 34 days.

Residential condominium unit sales in the City of Alexandria dropped from 212 units sold in the 4th quarter 2011 to 192 units sold in the 1st quarter 2012.  This is also a decline from 229 units sold year-over-year. 

The median sold price for condo units increased to $238,000 from $215,000 years-over-year with a sold price range of $82,900 - $2,375,000 in the 1st quarter.

Check our Alexandria City Monthly Market Updates.

We appraise Alexandria City real estate!

Arlington County Real Estate:

The Arlington County market saw an increase in volume single family residential units year-over-year from 210 units duriing the same time a year ago to 256 units sold in the 1st quarter 2012. Sold prices ranged from $210,000 - $2,110,502 in the 1st quarter with a median sold price of $641,500, up slightly from $640,000 in the 4th quarter 2011 and up from $625,000 a year ago. Days-on-market ranged from 0 -462 days with a median days-on-market of 31 days. The median sold price as a percentage of the median original list price remained at 97% in the 1st quarter, unchanged from the 4th quarter 2011 but up from 96% year-over-year.

There were 233 Comdominium unit sales with a sold price range of $55,000 - $4,200,000 and a median sold price of $349,000, down from $364,900 year-over-year and $358,700 in the 4th quarter 2011.  Days-on-market has ranged 0-297days with a median DOM of 38 days. The median sold price as a percentage of the median original list price was 97% for the 1st quarter, up from 96% a year ago.

Check our Arlington County Monthly Market Updates.

We appraise Arlington County real estate!

Fairfax County Real Estate:

Fairfax County had 1,973 single family residential sales in the 1st quarter, down from 2,097 in the 4th quarter 2011 and virtually unchaged from 1971 units in the 1st quarter 2011. The average sold price was $515,060 with a sold price range of $102,000 - $6,000,000. This is a increase from an average sold price of $497,573 year-over-year.  The average days-on-market was 57 days in the 1st quarter with a range of 0 - 1,551 days. The average sold price as a percentage of the average original list price has been 94% in the 1st quarter.

There were 526 residential condominium unit sales with a price range of $30,000 - $850,000 and an average sold price of $225,211. The number of units sold declined from 554 units and the average sold price increased from $222,961 in the 1st quarter 2011.  The average sold price as a percentage of the average original list price has been 95%. The average days-on-market has been 46.

Check out our Fairfax County Monthly Market Updates.

We appraise Fairfax County real estate!

Fairfax City Real Estate:

There were 52 single family residential sales in Fairfax City in the 1st quarter, up from 45 sales in the 4th quarter 2011. The median sold price was $459,000, up from $420,000 in the 4th quarter 2011 and up from $392,500 year-over-year.  The sold price range has been $222,400 - $1,120,000 in the 1st quarter with a median days-on-market of 53 days. The median sales price to median original list price ratio was 96%.

There were 12 residential condo unit sales ion the 1st quarter. The sold price range has been $105,000 - $495,000 with a median sold price of $142,500 and a median days-on-market of 23 days.

We appraise Fairfax City real estate!

Falls Church City Real Estate:

The city of Falls Church saw 18 sales of single family residential properties in the 1st quarter, down from 24 sales in the 4th quarter 2011. The median sold price was $632,400 with a sold price range of $350,000 - $1,195,000. Looking back a year we see a median sold price of $682,500 and a sold price range of $409,000 - $1,360,000 for the 1st quarter 2011. The median days-on-market was 54 with a range of 2 - 436 days in the 1st quarter 2012 and the sales-to-list price ratio based on the original list price was 96%.

Condominium unit sales amounted to 14 units with a median sold price of $324,173, down from $332,363 year-over-year. The sold price range was $139,300 - $715,000 with a median days-on-market of 37 days.

We appraise Falls Church real estate!

Loudoun County Real Estate:

There were a total of 873 single family sales in Loudoun County in the 1st quarter.  The average sold price was $448,489 with sold price range of $55,000 - $1,500,000. This is a increase from an average sold price of $439,180 in the 4th quarter 2011 and an increase from $432,735 in the 1st quarter 2011. The days-on-market ranged from 0 -698 days with an average of 57 days. The sales-to-list-price ratio was 95% based on the original list price.

Condominium unit sales numbered 127 units in the 1st quarter a decline from 159 units sold in the 4th quarter 2011. The median sold price was $210,000, unchanged from the 4th quarter 2011 quarter and an increase from a median sold price of $183,000 year-over-year.  The sold price range was $70,100 - $589,900 with a median DOM of 26 days.   The median sold price as a percentage of the original median list price was 93% in the 1st quarter.

Check out our Loudoun County Monthly Market Updates.

We appraise Loudoun County real estate!

Manassas City Real Estate:

The City of Manassas saw a total of 78 single family residential sales in the 1st quarter 2012, down from 82 units sold in the 1st quarter 2011.  The sold price range was $95,000 - $470,000. The median sold price was $225,000 up from $173,000 year-over-year. Median days-on-market was 27 days with a range of 0 - 184 days. The median sold price as a percentage of the median original list price was 97% in the 1st quarter.

There were 20 condominium unit sales with a price range of $82,000 - $285,000 and a median sold price of $118,500. This is a slight  increase from a median sold price of $117,500 in the 1st quarter 2011.

We appraise Manassas City real estate!

Manassas Park City:

There were a total of 43 single family residential sales in Manassas Park City in the 1st quarter 2012. The sold price range was $105,000 - $399,000. The median sold price was $217,000, up from $193,000 year-over-year and $200,000 for the 4th quarter 2011.  The median days-on-market was 20 days with a range of 0 - 287 days. The median sold price as a percentage of the median original list price was 96% in the 1st quarter.

Condominium unit sales amounted to 9 in Manassas Park City with a price range of $130,000 - $185,000 and a median sold price of $155,000. The sales price to list price ratio was 96%, up from 94% in the 1st quarter 2011.

We appraise Manassas Park real estate!

Prince William County Real Estate:

The Prince William County market saw a decline in the number of single family residential sales from 1,141 units in the 1st quarter 2011 to 1089 units in the 1st quarter 2012.   The average sold price was $295,257 with a price range of $70,000 - $899,900.  This compares to an average sold price of $273,783 for the 1st quarter 2011 and $291,062 in the 4th quarter 2011. The average day-on-market was 47 days with a range of 0 - 430 days. The sales-to-list-price ratio was 96%, up from 95% in the previous quarter.

There were 108 Condominium unit sales in Prince William County, down from 126 units in the previous quarter and a decline year-over-year from 139 units. The median sold price was $157,450 in the 1st quarter, up from a median sold price of $150,000 year-over-year.  The sold price range was $49,999 - $346,169 with a median days-on-market of 33 days.

Check out our Prince William County Monthly Market Updates.

We appraise Prince William County real Estate

 

 


Posted in:General
Posted by Erol Sevin on April 27th, 2012 11:13 PMPost a Comment

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