(703) 786-6155

  • Email
  • Facebook
  • Instagram
  • Twitter
  • Home
  • Search
    • Search All Listings
    • Search by Map
    • Featured Listings
    • Sold Listings
    • New Listing Notifications
    • User Login
  • Buyers & Sellers
    • Buyers & Sellers
    • What’s My Home Worth
  • Blog
  • About
    • About Us
  • Testimonials
  • Contact
Home > October 2016 Northern VA Market Update

October 2016 Northern VA Market Update

November 9, 2016 by Kristie Leave a Comment

 northernva_october2016_statpak_page_01Here’s the pulse of the October 2016 Northern VA market:

  • Contract activity
  • Urgency Index of Buyers
  • Inventory of Available Homes
  • Interest Rates & Affordability

Contract activity was down just .5% from Sept 2015. Through the first 9 months of the year, new contract activity is up 3.5%. Average number of days on market for homes receiving contracts was 56, slightly down from Sept 2015.

The urgency index was 54.4%, up slightly from Sept 2015 and year to day is slightly up overall at 59.2% compared to the urgency index of 2015 of 58.4%.

Inventory is down 17.2% and there is a 3.1% drop in number of new listings. This is helpful to sellers, as prices hold steady due to less competition.

Interest rates were at 3.42% down only slightly but still historically low which means the affordability index is advantageous to buyers. Overall lack of quality inventory is curtailing activity.

Filed Under: Market Reports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

New Listing Notifications
What's My
Home Worth

Categories

  • Home Maintenance
  • Homes for Sale
  • Market Reports
  • Moving Tips
  • Real Estate News
  • Uncategorized

Search Listings

$
$

RLAH Real Estate

4040 N Fairfax Dr #10C Arlington, VA 22203
11 Dupont Cir NW #650 Washington DC 20036
(703) 786-6155
Contact Us

DC MD VA Homes Group

We believe the caliber of an agent is measured in honesty, experience, knowledge and referral success so we strive for excellence in all categories. We're tough as nails and sweet as honey, which is a win-win during negotiations ...
Meet Us
  • Email
  • Facebook
  • Instagram
  • Twitter

sitemap   •   admin   •   ©2019 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com