Sales continue to lag behind last year’s numbers down almost 10% compared to last year in March. Sales were up 23% over February and are only 5.2% down from last year’s year-to-date sales. With the weather finally warming up we’ll see if that gets our spring market going. We are seeing multiple offers and escalations so what little is out there is selling.
The weather continued to play a role in a slower year-over-year pace for the Northern Virginia and Washington DC real estate markets. Inventories were up in most cases and sales were up and down depending on the jurisdiction. Take a look at the latest information for the region.
Weather, weather, weather continues to be the big story for the real estate market this year. Inventory was up in many jurisdictions while home sales were down. Despite the weather we still see strong activity in the market. Homes getting snatched up and in some cases bid up if it’s priced well. Expect a very busy spring!