Northern Virginia Market Conditions - December 2004
A strong Seller's Market continues to dictate Northern Virginia Real Estate conditions. Limited inventory in single family, townhouse and condominium markets have resulted in stiff competition between ready, willing and able buyers. Buyer's must have realistic purchase expectations and be prepared to do what is necessary to make winning purchase offers. New homes are also facing limited inventory issues.
Northern Virginia sales prices averaged $449,678 in August 2004 compared to $379,764 in 2003, an increase of 18%. Active listings remained tight with inventory levels about 5% less than August 2003.
posted by NoVa Real Estate @ 4:09 PM
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