March 2015 Home Sales Compared to March 2014: NVAR Footprint
The Northern Virginia Association of Realtors® reports on March 2015 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 1,538 homes sold in March 2015, a 13.84 percent increase over March 2014 home sales of 1,351.
Active listings continued to show a significant increase this month compared with 2014. Listings were up 27.23 percent over last year, with 3,831 active listings in March, compared with 3,011 homes available in March 2014. Homes continue to take longer to sell this year than last. The average days on market (DOM) for homes in March 2015 was 62 days, an increase of 37.78 percent compared to the 45 DOM for homes in March 2014.
The average home sale price rose this March, to $548,101. This is up 2.73 percent compared to March 2014, when the average price was $533,534.
The median sold price of homes this March, which was $475,000, rose by 4.40 percent compared to the median price of $455,000 in March 2014.
The 2,293 new pending home sales in Northern Virginia in March is an increase of 13.51% compared with 2,020 contracts that were pending in March of last year.