The numbers below reflect the market for all of Northern Virginia (Arlington, Alexandria, Falls Church City, Fairfax City, and Fairfax County). Real Estate market are really very small, right down to the neighborhood level, but this gives a picture of the broad market around Northern Virginia that is compromised of the many smaller markets.
May was a slightly better month than April (which was surprisingly good) in terms of total units sold, but their were also a few more homes on the market so the percentage of homes sold was slightly less. I believe these numbers are a very good sign for the Northern Virginia real estate market going forward. My concern after seeing the April numbers was that they were just an anomaly. These May numbers show this market was able to sustain this level of sales for two months now. We are maintaining a 5 month supply of homes on the market, which is neither hot or a cold market.
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