4.55% Increase of median sales price in the Northern Virginia area since April 2012.
11.68% Increase in April 2013 home sales in the Northern Virginia area (1,874) compared to April 2012 total home sales (1,678).
7.46% Increase in number of homes sold in Northern Virginia year-to-date as of April 2013, compared to April 2012. A total of 5,447 homes were sold from January through April 2013, compared to 5,069 in 2012.
34.62% decrease in average days on market for homes in April 2013, compared to April 2012, from 52 days down to 34 days.
Average April sale prices in the NVAR region are up 8.23% to $537,999 compared with April 2012 prices which averaged $497,083.
Limited Supply: Prices will keep rising because there is less than 1.37 months’ supply of available housing in Northern Virginia. This is an almost 38% decrease since April 2012.
More Expensive To Rent Than Own: Compared to the 1st Quarter of 2012, 2013 monthly average rental prices increased across most of Northern Virginia – City of Alexandria by 3.8% ($2,123 to $2,203); Fairfax County by 2.4% ($2,103 to $2,154); City of Falls Church by 7.3% ($2,255 to $2,420).
Unemployment, one of the most important statistics for any housing market, is trending down in Virginia, which at press time, the rate stood at 4 percent. The Northern Virginia unemployment rate is well below the 7.6 percent national average.
In 2012, the Fairfax County Economic Development Authority worked with 186 companies adding more than 8,400 jobs to the county’s economy. The companies adding jobs reflect the growing diversification of the county’s economic base, the increasing global nature of the economy in Northern Virginia, and the strong minority business community, too.
Fairfax County has added more than 15,000 business establishments and nearly 198,000 jobs since 1990.
According to the 2030 Group Housing Report, the D.C. metropolitan area will add more than 1 million net jobs in the next 20 years. More than half of those will be in Northern Virginia.
Fairfax County in Northern Virginia has nearly 6,700 technology companies and is home to several government agencies, including the Central Intelligence Agency headquarters, the United States Patent and Trademark Office, and the Pentagon.
Northern Virginia is home to half of the state’s Fortune 500 companies including Northrop Grumman, Capital One, and Booz Allen Hamilton. Fairfax County has more companies on the 2012 Fortune 500 companies list, which is more than 34 states, and is in the top 10 of U.S. counties with the most ranked companies.
Four of the top 10 communities ranked on a median household income scale are located in Northern Virginia. With a 2011 median family income of $105,416, Fairfax County ranks third in the nation among large U.S. counties.
Nineteen of Northern Virginia’s high schools appear in the top 200 of Newsweeks America’s Top Public High Schools.
Washingtonian Magazine included Northern Virginia cities Clarendon, Chantilly, Falls Church, and Herndon on their list of 2012 Best Places to Live.
Money Magazine named Northern Virginia towns Herndon and Oakton among its top 100 places to live in America.