August was the fifth strong month in a row for the Northern Virginia real esate market, which includes Arlington, Alexandria, Fairfax, and Falls Church. In years past, we typically see the market absorption rates slowing this time of the year, but August remained above the 20% threshold. This translates into a 5 month market for a person trying to sell their home.
Below are the stats for the last 2.5 years of real estate sales in Northern Virginia. Note how August sales compare to the previous two Augusts.