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The most noticeable statistic in the Market Statistics released by NVAR for December is the inventory. Inventory in December is the lowest it’s been since May, 2005. This usually has the effect of pushing values up. I expect more foreclosures to come on the market now that lenders have started to process foreclosures again after the robo-signing scandal so any large increase in home values in the short term will probably be tempered as inventory increases. The good news for those living in Virginia is that the foreclosure timeline is one of the shortest in the nation so any increase we see in foreclosure inventory will be moved quickly.
December Active Listings
December Homes Sold
December Median Price
Northern Virginia Homes Sold v. Active Listings
Northern Virginia Median Prices
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