Northern Virginia Real Estate market Update

February 2016 Regional Market Update: The median sales price for the region was down 2.6% from February last year. This marks the third month in a row of year over year median price decline. Sales activity remains strong with increases in volume of sales across all property types. NOVA Market Update: The data for Northern VA home prices varies rather significantly from location to location. Median sales price year to date in Lorton is up 38%, Oakton is down 23% and Fairfax County is holding steady with a median sales price year to date at $444,000 (down 0.8% from this time last year). If you'd like a detailed analysis of the home prices in your neighborhood please reply to this email with your address.   Rate Update: Mortgage lending rates have gone up and down slightly over the past month with no significant increase yet. The current rate for a 30 year fixed mortgage is 3.73%