Fairfax, VA - "Existing home sales were moderate this past January," said Mario Rubio
, 2014 Chairman of the Board for the Northern Virginia Association of Realtors®.
"The Polar Vortex weather impacted the number of January pending sales.
Considering the snow and freezing temperatures, our view is that the 1,335 new contracts created in January is really not a bad sign.
Rubio is the broker owner of Rubio Real Estate in Annandale.
"Active listings rose more than 25 percent, with 2,391 on the market compared to 1,909 in January 2013," Rubio
This is a sure sign that consumer confidence about our region's housing market is solid, he
"Considering the realities at hand, we did not expect to break records, and we are further pleased that days on the market went down to 55 days last month, compared to the 58 days it took to sell the year before," Rubio
Townhouse average prices went up 3 percent, while detached home average prices went down 1 percent.
The median price of homes in Northern Virginia rose by 2 percent.
Wintertime is typically the least busy season for buying and selling homes in the DC metro region.
With the expectation that the employment numbers will remain strong locally, there should be excellent home buying traffic while our region thaws out, Rubio