We have a big announcement coming from RBI next week that will unveil a new type of data our customers have been asking for for quite some time. But while we put the finishing touches on that surprise, we’ll tide you over with a deeper look into our data for February 2014. All this information comes from rbiEXPERT. Learn how you can sign up for a free trial subscription here.
Washington D.C. has seen a sizeable increase in median and average sales prices over the past five years and last month was no exception. The gap between the average sales price and its five year average is widening at a faster pace than the median sales price, indicating a stronger upward pull from home prices in more recent times.
Trends for new listings in Northern Virginia outpaced Maryland for most jurisdictions. In fact, compared to the five year average, only two counties in our Virginia footprint had fewer new listings during February 2014 —Arlington and Fauquier. Though, Fauquier is a mere five listings shy of the average. Of the Virginia suburbs, Loudoun County showed the biggest jump in new listings.
Takoma Park is becoming more popular than ever. The average Days on Market has plummeted by 63% compared to the five year average.