Increases both in total sales and average prices helped make the August real estate market a strong one across Northern Virginia – and prospective purchasers finally have a reasonable amount of inventory to choose from.
The total sales volume of $1.09 billion last month represented an increase of 14.6 percent from the $955 million recorded a year prior, making it a good month from the perspective of the real estate community.
A total of 2,052 residential properties went to closing during the month, according to figures reported Sept. 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service. While that was, not unexpectedly, down from more than 3,600 transactions a month before during the annual mid-summer market peak, it was up 12.9 percent from the 1,818 sales that took place in August 2012.
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Source: Sun Gazette Newspaper