[This market recap on the Northern Virginia from MLS data is compiled by [Butch Hicks](http://bhicks.com), a former president of [RAC (Relocation Appraisers and Consultants)](http://www.rac.net) (that I am a member of), a friend and an experienced appraiser in Northern Virginia. The results of his efforts are published on his web site as [a series of charts](http://www.bhicks.com/statistics.htm), each with a brief summary. (As a kid growing up in the Washington DC area, I was bombarded by “Virginia is for Lovers” tourism ads, and of course “DC is for US, by George”)] -Jonathan Miller

[View the charts [BHicks.com]](http://www.bhicks.com/statistics.htm)

Rising inventory, flat sales levels and prices slipping…sound familiar?

Here’s a sample of the charts available online.

* The median price paid at the end of March, 2007 was $442,336, a decrease of 3.6% from the same time period 12 months earlier.
* At the end of March, 2007, inventory was six months, an increase of 46% from one year earlier.

One Comment

  1. Jay - Arlington Virginia Condos May 5, 2007 at 10:55 pm

    Yes the statistics have caught up finally to the reality that many of us knew. With some parts of Northern Virginia though prices may have stabilized. In Arlington, VA in March 2007 the median sales price was flat and in McLean, VA up 2.5%. I wrote about this and why the numbers are showing up now versus last year in this post: Home Prices Stabilize in Arlington VA & Washington DC

    However with condos there is still a lot of fluff here that needs to be corrected….

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