Well - the spring market (that started in January 2013) just keeps on going! (Now, it's August 2013!).
The stats are out for the Northern Virginia area and just about every category is UP comparing July 2012 to July 2013. Sales are up. Dollar volume is up. And average/median sales prices are up.
Statistic Values YoY MoM
Total Sold Dollar Volume $1,195,041,514 +24.24% -14.99%
Closed Sales 2,146 +16.13% -14.02%
Median Sold Price $489,950 +6.8% -1.99%
Avg Sold Price $556,869 +6.98% -1.13%
Avg Days on Market 25 days -43.18% +4.17%
Avg Sold to Orig List Ratio 98.46% +1.32% -0.57%
The average days on market, as a result of the tight inventory, keeps moving downward. The average time is 25 days on the market (less than 4 weeks!).
Currently the monthly absorption rates are just as tight:
Arlington County: 1.99 
Alexandria City: 1.75
Fairfax County: 1.55
Washington DC : 1.53
Need more info on your personal market? Give us a call at Weichert Realtors in McLean, VA at (703) 821-8300 to connect. We serve Virginia, Maryland and Washington, D.C.