Northern Virginia Market Update through March 2009

The Northern Virginia real estate market had homes selling more quickly in March than in any month since January of 2006.  The supply of homes in the Northern Virginia market, defined as Arlington and Fairfax Counties, along with the cities of Alexandria, Falls Church, and Fairfax, was at a 3.5 month supply in March.  Prices ticked up a little bit from February, but are still well under what they were a year ago.

Prince William County continued to sell at a rapid pace, with over 40% of the homes on the market selling in March, giving the Prince William less that a 2.5 month supply of homes on the market.

The close-to-dc areas of Arlington and Alexadria didn’t see as rapid of a sales pace, but did see prices increases, in terms of average sales price, in March.

Fairfax County saw it pace of sales rise above 30% and coninued to see price stabilization from it’s earlier drop.

See the spreadsheet below for all the numbers.  Please note the bottom of the spreadsheet lists different jurisdictions.  You can click on each one to see the specific market numbers for it.

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