Northern Virginia Housing Prices Rise in 2011
Good news, residents of Falls Church! Northern Virginia made the list of top ten metro areas that experienced the greatest appreciation in home values in 2011, according to Inman News. Using data compiled from Realtor.com, Northern Virginia earned the number three spot on the list. Washington, D.C., also made the list, coming in at number six. You can check out the entire list of cities that made the top ten here.
Prices in NoVA increased a little more than six percent compared to the previous year, while values in D.C. saw an uptick of 4.34 percent. This is good news for sellers that are relocating or are thinking of “right” sizing. And buyers, if you’ve been on the fence about purchasing a home, now is probably a good time to pull the trigger. In addition to rising prices, our area’s inventory has been on the decline, making it a bit harder to find that perfect home.
Both NoVA and D.C. had the highest end-of-year list prices when compared to other cities that made the cut. Northern Virginia’s median list price was $349,990, while Washington, D.C., took the top spot with a median list price of $385,000.
If you’d like more information or have any questions about real estate in your area, please contact us. And if you’re thinking of selling (or are just curious), we’d be happy to provide you with a free market analysis of your home’s value.
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