[This market recap on the Northern Virginia from MLS data is compiled by Butch Hicks, a former president of RAC (Relocation Appraisers and Consultants) (that I am a member of), a friend and an experienced appraiser in Northern Virginia. His results are published on his web site as a series of charts, each with a brief summary. (As a kid growing up in the Washing DC area, I was barraged by "Virginia is for Lovers" tourism ads, and of course "DC is for US, by George")] -Jonathan Miller
Note: Butch will be joining our regular writers on Soapbox with his own column shortly called “Hicks on Sticks”.
Here’s a sample of the charts available online.
Median sales price for October 2006 was $436,313, down 5% from the same period las year.
Inventory is up 209% from the same period last year.
New offerings added to the market have been declining since June 2006 but contracts have too.