May 2015 Real Estate market activity and market absorption for Northern Virginia and Washington DC markets. Inventory in almost all markets continues to rise along with units sold. Sales prices remain steady and are up slightly in some areas but no significant changes. Sellers continue to have most of the leverage but there is a bit more room for negotiation off the price and for seller subsidy.
If a home shows well and is priced right we are seeing some multiple offer situations but those are not the norm. Pricing and condition in any market is key.
March continued to be a brisk month for real estate sales. Though inventory continues to rise, we have seen some pockets experience multiple offers. Here are the latest statistics for Northern Virginia and Washington DC.