Sunday, February 22, 2015
In 2014, sales in Northern Virginia and Montgomery County trailed behind 2013 sales with a 5% decrease in dollar volume of sales, and a less than 1% increase in average price compared to a 7% increase in average price in 2013. The District of Columbia, which had a 5% gain in sales volume and a 5.5% gain in average price was the only jurisdiction to show significant gains, which kept the performance numbers for the close-in Metro area from dipping below the 2013 levels.
January numbers this year were much better than January 2014, with the close-in Metro area experiencing a 9% gain in dollar volume of sales and a 4% gain in average price. So, despite the cool 2014 market in Northern Virginia and Montgomery County, the overall January 2014 numbers bode well for the spring real estate market.
*Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery Country, Maryland; and Fairfax County, Arlington and Alexandria in Northern Virginia.