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There are really no substantial changes in August’s housing statistics for Northern Virginia (see the graphs below), but these next two graphs are very interesting to me. I graphed Active Listings versus Homes Sold since January, 2000 as well as the Median Sales Price of homes sold each month since January, 2000.
Two things stand out to me:
- We will be able to know we are heading towards a more healthy/normal housing market by watching to see when these two lines get closer together.
- Even though we lost a lot of value–with the lowest values occurring in the beginning of 2009–we have gained much of that lost value back.
The housing market “feels” worse than it is if you simply look at value. Our local market continues to hold its value despite the national economy, and that is reason to be… and stay… encouraged!
August Active Listings
August Homes Sold
August Median Sales Price
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