Northern Virginia Is For Lovers (And Real Estate?): December 2006

Posted by Jonathan J. Miller -Monday, January 15, 2007, 12:03 AM
1 Comment

[This market recap on the Northern Virginia from MLS data is compiled by Butch Hicks, a former president of RAC (Relocation Appraisers and Consultants) (that I am a member of), a friend and an experienced appraiser in Northern Virginia. The results of his efforts are published on his web site as a series of charts, each with a brief summary. (As a kid growing up in the Washington DC area, I was bombarded by "Virginia is for Lovers" tourism ads, and of course "DC is for US, by George")] -Jonathan Miller

View the charts [BHicks.com]

Here’s a sample of the charts available online.

• The median price paid at the end of December 2006 was $433,939, a decrease of 6.6% from the same time period 12 months earlier.
  
• At the end of December 2006, inventory was 5.3 months, an increase of 78% from one year earlier.

One Response to “Northern Virginia Is For Lovers (And Real Estate?): December 2006”

1. Toni Scott says:

   January 16, 2007 at 11:34 AM

   I love the chart on “unsold inventory” and comparing it with the “sold.” Great tool for those sellers still coming to terms with the market.