We hope you will find the following snapshot of April’s inventory statistics for the various regions and property types/values in our local Real Estate market informative.
This snapshot features new data points that we introduced last month. They show the trend of changes across several categories from 30 days prior. This can be a good way to lend some perspective to the numbers, bearing in mind that the Spring market has a natural life-cycle so some months are inherently more active than others. See the graph below that details the month-by-month volume of closed sales in the Mid-Atlantic region to gain some perspective on the trend of the Spring Market. Obviously the Northern Virginia market is unique and will deviate from the regional view, but this shows the general pattern.
Again this month the 30 Days Trend column for the Average Days On Market active/sold is a good illustration of how April will usually behave, with properties moving faster than in March and in most categories the number of listings was up in April by between 11% and 30%. However, it seems the increase in number of listings, while still higher than in March, is less so for Condo/Townhomes over $600K/$350K/… respectively.
Please let us know if you need our help with anything real estate related.