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Northern Virginia Market Quarterly - 1st Quarter 2014
April 6th, 2014 6:10 PM
 

There were 4,519 single family residential sales in the Northern Virginia real estate market in the 1st quarter 2014, down from 5,913 sales in the 4th quarter 2103 and down from 5,098 sales year-over-year. 

The average sold price for single family residential properties was $506,458 in the 1st quarter, down from $518,156 in the 4th quarter and up from $489,365 in the 1st quarter 2013.

Sold prices ranged from a low of $70,000 to a high of $18,600,000.   Days-on-market ranged 0-870 days with an average DOM of 48 days.  The average sold price as a percentage of the average original list price was 96%, unchanged from the previous quarter and down from 98% year-over-year.  

There were 1,320 condominium unit sales in the 1st quarter.  The sold price ranged $90,000 - $2,600,000 with an average sold price of $303,059. This is an increase from an average sold price of $290,033 in the 1st quarter 2013.

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 182 single family residential sales in the City of Alexandria in the 1st quarter 2014.  The sold price range was $249,900 - $3,025,000 with an average sold price of $671,179. This is virtually unchanged form an average sold price of $671,354 in the previous quarter but an increase from $631,499 year-over-year.   

The median sold price was $601,225 in the 1st quarter, up slightly from $590,000 in the 1st quarter 2013. The median sold price as a percentage of the original list price was 98% in the 1st quarter, up from 97% in the previous quarter. The days-on-market has ranged from 0 - 614 days with a median days-on market of 17 days.

Residential condominium unit sales in the City of Alexandria decreased from 216 units sold in the 1st quarter 2013 to 191 units.  

The median sold price for condo units decreased to $270,000 from $278,250 in the the same period a year ago.  The sold price range was $91,000 - $2,500,000 in the 1st quarter. The median sold price as a percentage of the original list price was 98% in the 1st quarter.

Check our Alexandria City Monthly Market Updates.

We appraise Alexandria City real estate!

Arlington County Real Estate:

There were a total of 224 single family residential sales in the 1st quarter.  Sold prices ranged from $300,000 - $2,130,000 with an average sold price of $800,889, down slightly from $815,251 in the previous quarter. 

The median sold price was $727,500 in the 1st quarter, up from $641,500 year-over-year.   Days-on-market ranged from 0 - 315 days with a median days-on-market of 15 days. The median sold price as a percentage of the median original list price was 99% in the 1st quarter.  

There were 246 condominium unit sales with a sold price range of $94,000 - $2,600,000 and a median sold price of $387,000.  This is an increase from $363,000 year-over-year. Days-on-market has ranged 0-236 days with a median DOM of 18 days. The median sold price as a percentage of the median original list price was 99% up from 98% in the 4th quarter 2013.

Check our Arlington County Monthly Market Updates.

We appraise Arlington County real estate!

Fairfax County Real Estate:

There a total of 1,929 single family residential sales in Fairfax County in the 1st quarter, down slightly from 2,058 units sold in the 1st quarter 2013. The average sold price was $570,889 in the 1st quarter with a sold price range of $157,525 - $18,600,000.

This is a slight increase from an average sold price of $568,483 for the same period a year earlier. The average days-on-market was 43 days in the 1st quarter with the average sold price as a percentage of the average original list price has been 96%. 

There were 539 residential condo sales in Fairfax County in the 1st quarter 2014, up slightly from 530 units sold in the 1st quarter 2013. The sold price range was $95,000 - $1,450,000 with an average sold price of $273,281. This is an increase from an average sold price of $259,391 year-over-year.  The average sold price as a percentage of the average original list price has been 97%.  The average days-on-market has been 40 days.

Check out our Fairfax County Monthly Market Updates.

We appraise Fairfax County real estate!

Fairfax City Real Estate:

There were 51 single family residential sales in Fairfax City market in the 1st quarter, down from 60 sales in the 1st quarter 2013. The median sold price was $475,000, up from $423,500 year-over-year. 

The sold price range was $212,500 - $1,180,000 in the 1st quarter with a median days-on-market of 11 days. The median sales price to median original list price ratio was 95%.

There were 8 residential condominium unit sales in the 1st quarter, down from 11 units sold in the 1st quarter 2013. The sold price range was $141,000 - $585,000 with a median sold price of $201,250, up from $160,000 year-over-year. The median days-on-market was 26 days with a range of 0 - 67 days.

We appraise Fairfax City real estate!

Falls Church City Real Estate:

The city of Falls Church had 19 sales of single family residential properties in the 1st quarter. The median sold price was $725,000 with a sold price range of $539,500 - $1,152,000. This is a decrease from a median sold price of $770,000 in the 4th quarter 2013 and virtually unchanged from $726,000 year-over-year.  The median days-on-market was 17 days with a range of 3 - 120 days.  The median sales-to-list price ratio was 102%.

Condominium unit sales amounted to 12 units in Falls Church City with a median sold price of $416,000 and a range of $200,000 - $865,000. This is an increase from $405,000 year-over-year.  The median days-on-market was 11 days.

We appraise Falls Church real estate!

Loudoun County Real Estate:

There were a total of 840 single family residential sales in Loudoun County in the 1st quarter, down from 1,146 units in the 4th quarter 2013 and 987 units year-over-year. The average sold price was $487,865 with a sold price range of $109,900 - $1,985,000. This is a slight decline from an average sold price of $494,821 in the 4th quarter 2013 but an increase from $465,583 year-over-year.  The days-on-market ranged from 0 - 863 days with an average of 61 days. The average sold price to average list-price ratio was 97% based on the original list price. 

There were 154 Condominium unit sales in the 1st quarter, down from 160 units sold in the 1st quarter 2012.  The average sold price was $267,944, an increase from a average sold price of $253,983 year-over-year. The sold price range was $145,750 - $610,000 with an average days on market (DOM) of 28 days. The average sold price as a percentage of the average original  list price was 98% 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 93 single family residential sales in the 1st quarter 2014 with a sold price range was $120,000 - $660,000. The median sold price was $265,000 down from $273,000 in the 4th quarter 2013 and up from $250,000 year-over-year. Median days-on-market was 17 days with a range of 0 - 242 days. The median sold price as a percentage of the median original list price was 95% in the 1st quarter.

There were 13 condominium unit sales in the 1st quarter with a sold price range of $119,000 - $280,000 and a median sold price of $147,000. This is an increase from a median sold price of $119,000 in the 1st quarter 2013.

We appraise Manassas City real estate!

Manassas Park City:

There were 26 single family residential sales in Manassas Park City market in the 1st quarter 2014. The sold price range was $151,700 - $416,000. The median sold price was $236,000, down slightly from $245,000 year-over-year. The median days-on-market was 28  with a range of 0 - 113 days. The median sold price as a percentage of the median original list price was 99% in the 4th quarter.

There were 8 condominium unit sales in Manassas Park City with a price range of $161,000 - $215,000 and a median sold price of $184,950, up from $167,500 year-over-year.  The sales price to list price ratio was 93% based on original list price.

We appraise Manassas Park real estate!

Prince William County Real Estate:

The Prince William County market saw single family residential sales of 974 units in the 1st quarter. The average sold price was $339,718 with a price range of $75,000 - $950,000.  This is a decline from an average sold price of $348,295 in the 4th quarter 2013 and an increase from $325,587 year-over-year.  The average days-on-market was 41 days with a range of 0 - 267 days. The average sales price as a percentage of the average original list price was 97%.

There were 137 Condominium unit sales in Prince William County in the 1st quarter 2014. The average sold price was $231,743. The median sold price was $232,500, up from an average sold price of $199,750 in the 1st quarter 2013  The sold price range was $95,000 - $824,900 with an average days-on-market of 27 days. The sales-to-list-price ratio was 97% in the 1st quarter.

Check out our Prince William County Monthly Market Updates.

We appraise Prince William County real Estate

 

February 2014 Summary:


Posted in:General
Posted by Erol Sevin on April 6th, 2014 6:10 PMPost a Comment

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