[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. The results of his efforts are published on his web site as a series of charts, each with a brief summary. (As a kid growing up in the Washington DC area, I was bombarded by "Virginia is for Lovers" tourism ads, and of course "DC is for US, by George")] -Jonathan Miller
Rising inventory, flat sales levels and prices slipping…same news as March 2007.
Here’s a sample of the charts available online.
- The median price paid at the end of July, 2007 was $452,167, a decrease of 1% from the same time period 12 months earlier.
- At the end of July, 2007, inventory was eight months, an increase of 24% from one year earlier.