Inventory Comparison between December 2004 and December 2004
For single family homes we see that in December 2004 there were 1,286 active listings in Northern Virginia. By December 2005 that number had almost tripled and reached 3,816 or a 196% increase in active listings.
For condos & coops we see that in December 2004 there were a mere 359 active listings in Northern Viginia. By December 2005 there were five times as many listings, reaching 1,842 or a 410% increase in active listings.
Home Sales Comparison between Decemeber 2004 and December 2004
For all housing units in December 2004 there were 2,801 sales. In December 2005 that number had decreased by 24% to 2,131.
Price Comparison between December 2004 and December 2004
For all housing units in December 2004 the average price was $476,941. In December 2005 that number had increased by 15% to $552,621. Please note that the price appreciation happened in the spring and summer and not in the later months of the year.
The spring numbers will be very interesting. I'll be watching closely. Stay Tuned.
The data was published by the NORTHERN VIRGINIA ASSOCIATION OF REALTORS
* EDITOR'S NOTE: Figures are based on data extracted from the Metropolitan Regional Information System, Inc (MRIS). Figures include data collected from the counties of Fairfax and Arlington, and the cities of Alexandria, Falls Church, Fairfax, and the towns of Vienna, Herndon and Clifton. The information is deemed reliable but not guaranteed. Data maintained by MRIS may not reflect all real estate activity in the market.