According to NVAR ( Northern Virginia Association of Realtors) the volume of home sales in April edged upwards by 6.12% from a year ago. Better yet pending home sales are up 24.8%. With inventory numbers still lower than anticipated, low interest rates and for some the option of the $8000 tax credit some buyers who had been waiting for the “bottom” have decided to make a move.
The second source of data for the Northern Virginia area is the monthly report produced by MRIS. The April housing statistics were released this week and they also show the Days on Market has dropped as well as a leveling off of prices in some areas.
Three of my listings in April all received MULTIPLE OFFERS! Now what may have helped is that all of them were regular sales, something that seems to be rare in our current market. We are in an unusal market for Northern Virginia and there are opportunities for savvy buyers.