December Actives Reflect the Expected Seasonal Ebb, New Under-Contracts Up 15 percent

December Sales, Prices, Actives Reflect the Expected Seasonal Ebb, New Under-Contracts Up 15 percent for Decisive Buyers, Reports the Northern Virginia Association of Realtors®

Fairfax – With mortgage rates in 2016 at all-time lows, between 3-4 percent, the housing market garnered a steady pace of transactions, with the Northern Virginia Association of Realtors® region posting a preliminary Year-To-Date total of 21,703 sales, which is 4.58 percent higher than the YTD 2015 of 20,752 homes sold. That overall increase was not enhanced by the December number of homes sold in the NVAR footprint, since this past December, home sales dipped to 1,558. This was a 4 percent decline compared to the 1,623 homes sold in December, 2015. NVAR services Fairfax and Arlington Counties, the cities of Alexandria, Falls Church and Fairfax.

“2016 had another strong showing with increased dollar volume, average and median sold prices,” said Ann Yanagihara, principal broker of Hana Associates in Alexandria and a 2017 NVAR Board member. “It just goes to show that in Northern Virginia, we are fortunate to live in one of the most dynamic and exciting real estate markets.

Read the full article: Northern Virginia Association of Realtors®