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Northern Virginia Market Quarterly - 2nd Quarter 2012
September 9th, 2012 10:29 PM

Let's take a look at the 2nd quarter 2012...

 

There were a total of 8,032 single family residential sales in the Northern Virginia real estate market in the 2nd quarter 2012, up from 6,981 sales in the 2nd quarter 2012 and up from 4,757 sales in the 1st quarter 2012.

The average sold price for single family residential properties was $495,619, up from $447,423 in the 1st quarter 2012. Days-on-market ranged 0-1,129 days with an average DOM of 38 days, down from 55 days in the 1st quarter.  The average sold price as a percentage of the average list price was 98%, up from 95% in the 1st quarter.

There were 1,819 Condominium unit sales in the 2nd quarter, up from 1,245 units in the 1st quarter, and up from 1,644 units year-over-year.  The sold price ranged $45,000 - $4,000,000 with an average sold price of $290,605. This compares to an average sold price of $269,468 during the same period a year ago.

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 376 single family residential sales in the City of Alexandria for the 2nd quarter, up from 204 sales in the 1st quarter 2012 and up from 337 units sold year-over-year. The sold price range was $180,000 - $2,900,000 with an average sold price of $644,970 down from and average sold price of $668,022 year-over-year.

The median sold price was $587,750 in the 1st quarter, down from a median of $629,000 year-over-year and up from $542,500 in trhe 1st quarter 2012.  The median sold price as a percentage of the original median list price was 98%. The days-on-market has ranged from 0 - 381 days with a median days-on market of 13 days.

Residential condominium unit sales in the City of Alexandria increased from 192 units sold in the 1st quarter 2012 to 269 units sold in the 2nd quarter. This is also an increase from 257 units sold year-over-year.

The median sold price for condo units increased to $262,000 from $247,500 years-over-year with a sold price range of $87,000 - $2,121,000 in the 2nd 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 for single family residential units year-over-year from 359 units in the 2nd quarter 2011 to 492 units sold in the 2nd quarter 2012. Sold prices ranged from $224,900 - $3,375,000 in the 2nd quarter with a median sold price of $699,450, up slightly from $689,000 in the 2nd quarter 2011.   Days-on-market ranged from 0 -605 days with a median days-on-market of 10 days. The median sold price as a percentage of the median original list price was  98% in the 2nd quarter, up from 96% year-over-year.

There were 411 Comdominium unit sales with a sold price range of $54,000 - $4,000,000 and a median sold price of $380,000, up from $349,000 in the 1st quarter 2012.  Days-on-market has ranged 0-513 days with a median DOM of 14 days. The median sold price as a percentage of the median original list price was 97% for the 2nd quarter, unchanged from the previous  quarter. 

Check our Arlington County Monthly Market Updates.

We appraise Arlington County real estate!

Fairfax County Real Estate:

Fairfax County saw 3,572 single family residential sales in the 2nd quarter, dup from 1,973 in the 1st quarter 2012 and from 3,100 units in the 2nd quarter 2011. The average sold price was $548,343 with a sold price range of $76,250 - $3,694,416. 

This is a increase from an average sold price of $506,032 year-over-year. The average days-on-market was 31 days in the 2nd quarter with a range of 0 - 1,129 days. The average sold price as a percentage of the average original list price has been 98% in the 2nd quarter, up from 96% for the same period 2011.

There were 744 residential condominium unit sales with a price range of $64,000 - $100,000,000 and an average sold price of $250,159. The number of units sold increase from 526 units in the 1st quarter and the average sold price increased from $225,211. This is also an increase year-over-year form $232,070.  The average sold price as a percentage of the average original list price has been 98%, up from 96% in the 1st quarter.   The average days-on-market has been 32 days.

Check out our Fairfax County Monthly Market Updates.

We appraise Fairfax County real estate!

Fairfax City Real Estate:

There were 96 single family residential sales in Fairfax City in the 2nd quarter, up from 65 sales in the 1st quarter 2012. The median sold price was $465,000, up from $459,000 in the 1st quarter and up from $440,000 year-over-year.

The sold price range has been $239,000 - $1,175,000 in the 2nd quarter with a median days-on-market of 14 days. The median sales price to median original list price ratio was 98%, up from 96% in the 1st quarter.

There were 18 residential condo unit sales in the 2nd quarter. The sold price range was $127,500 - $399,900 with a median sold price of $169,950, up from $145,000 year-over-year,  and a median days-on-market of 10 days.

We appraise Fairfax City real estate!

Falls Church City Real Estate:

The city of Falls Church saw 42 sales of single family residential properties in the 2nd quarter, up from 18 sales in the 1st quarter 2012. The median sold price was $781,132 with a sold price range of $402,150 - $1,350,000.   The median days-on-market was 22 with a range of 09 - 196 days in the 2nd quarter and the sales-to-list price ratio based on the original list price was 97%.

Condominium unit sales amounted to 20 units with a median sold price of $304,750, down from $335,750 year-over-year. The sold price range was $138,500 - $620,000 with a median days-on-market of 25 days.

We appraise Falls Church real estate!

Loudoun County Real Estate:

There were a total of 1414 single family sales in Loudoun County in the 2nd quarter. The average sold price was $456,235 with sold price range of $57,000 - $2,000,000. This is a increase from an average sold price of $448,489 in the 1st quarter and slight decline from $457,811 in the 2nd quarter 2011. The days-on-market ranged from 0 - 800 days with an average of 45 days. The sales-to-list-price ratio was 97% based on the original list price, up from 95% in the 1st quarter.

There were 176 Condominium unit sales in the 2nd quarter an increase from 150 units sold in the 2nd quarter 2011. The median sold price was $215,500, an increase from a median sold price of $210,000 in the 1st quarter and an increase from $190,000 year-over-year. The sold price range was $82,000 - $562,687 with a median DOM of 14 days. The median sold price as a percentage of the original median list price was 96% in the 2nd 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 109 single family residential sales in the 2nd quarter 2012, up from 78 units sold in the 1st quarter.  The sold price range was $85,000 - $815,000. The median sold price was $245,000 up from $225,000 year-over-year. Median days-on-market was 20 days with a range of 0 - 258 days. The median sold price as a percentage of the median original list price was 100% in the 2nd 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 48 single family residential sales in Manassas Park City in the 2nd quarter 2012. The sold price range was $110,000 - $485,000. The median sold price was $213,500, up from $169,000 year-over-year.  The median days-on-market was 11 days with a range of 2 - 237 days. The median sold price as a percentage of the median original list price was 100% in the 2nd quarter.

Condominium sales amounted to 13 units in Manassas Park City with a price range of $130,000 - $175,000 and a median sold price of $145,000. The sales price to list price ratio was 92% based on original list price. 

We appraise Manassas Park real estate!

Prince William County Real Estate:

The Prince William County market saw an increase in the number of single family residential sales from 1,484 units in the 2nd quarter 2011 to 1,638 units in the 2nd quarter 2012.  The average sold price was $318,885 with a price range of $52,000 - $1,187,500. This compares to an average sold price of $299,547 for the 2nd quarter 2011 and $295,257 in the 1st quarter 2012. The average day-on-market was 39 days with a range of 0 - 734 days. The sales-to-list-price ratio was 97%, up from 96% in the previous quarter.

There were 145 Condominium unit sales in Prince William County, up from 108 units in the previous quarter and up year-over-year from 134 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 September 9th, 2012 10:29 PMPost a Comment

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