THE MOST CURRENT MONTHLY REAL ESTATE
STATS FOR NORTHERN VIRGINIA
The charts and graphs below contain information from Real Estate Business Intelligence or RBI. (Hey what baseball nut like me wouldn’t love stats coming from a company named RBI) The numbers cover all listed homes sold by Realtors in Fairfax County, Arlington County and the cities of Falls Church and Alexandria. If you would like similar information for any other Northern Virgina community such as Prince William County or Loudoun County, let me know and I will be happy to provide the information.
The numbers are automatically updated every month at 10AM on the 10th (or next business day if the 10th is a weekend). Bookmark this page and check back monthly to make sure you have the latest on the local market
A 2 Year Review of the Market
A 10 Year History of the Market
OTHER MARKET STATS AND RECAPS
Average Northern Virginia Sale Prices 1975-2014. Posted by Joe 1/23/15
National Association of Realtors Metropolitan Area Existing Home Prices and Sales A great place to easily compare markets around the country and see the direction of prices in dozens of sub markets. This is a great site for investors to scout opportunities around the country.
S&P/Case-Shiller Home Price Indices This is one of the most cited barometers of the national trend in home prices. The data for our market will not be as detailed as the NVAR or REBI info but it does offer another perspective and a different take on the market. Personally, whenever I hear this index mentioned on the news I cringe a little. Housing is local. The stock price for McDonalds is the same in Portland Maine and Portalnd Oregon but the direction of housing prices are not. So listen with caution when you hear this on the news. Almost always, because of the government, our local market is doing better than the national averages.
Zillow trends. This is also another place to go to get info on markets outside of Northern Virginia. I know folks love Zillow and I, too, think it provides a needed service (hey my listings are advertised there so I believe in Zillow power) However, I have noticed that some of the Zillow Zestimates can be way off. I advise caution in using these to get a feel for the price of an individual home. In many ways they are like tax assessments. When a home value is mostly based on neighborhood, square footage, lot size and info in the tax records but no one has looked inside, there is value that can be missed or overstated. Zillow has no idea if a home features new granite counter tops, updated appliances, refinished hardwood floors or if the home has peeling laminate counters, 1980s carpet, a roof leak and mold. One would hope that all updates in a home are done with permits but quite a few basements, attics and extra baths are finished without contacting the county.