The first quarter of 2019 results show moderate increase in home sales price, compared to last year, in Northern Virginia & Washington DC.
In Northern Virginia, sales price rose 2.3% despite an inventory decline of -16.4%. And, days on market also declined compared to Q1. In DC, there was an 8% increase in average sale price since Q1 2018 with slightly higher inventory levels (+7.3%)
Overall, homes sold faster, for more money and availability has slightly improved. Overall, the housing market for the Greater DC market should continue to remain healthy due to consumer confidence, low unemployment and migration of high tech companies into our area. Sellers should continue to enjoy steady price appreciation and buyers can rely on continued low interest rates and growing inventory levels.
Want to find out what the market impact is on buying or selling your home or investing in a rental property? Contact me at [email protected] or 703-798-1803.
Information provided by KW Metro Center | www.kwarlingtonva.com | Each office is independently owned and operated. Not intended to interfere with any existing brokerage relationship.
