Select Openings Remain for Fall 2017 | Preschool through Grade 8
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FULL PAGE OF PHOTOS FROM McLEAN DAY CELEBRATION
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MADISON ADVANCES IN REGION BASEBALL
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Opinion Schools Real Estate Public Safety Classified Crossword 55+ News
W W W. G R E E N H E D G E S . O R G | V I E N N A , VA
Sun Gazette VOLUME 38
GREAT FALLS McLEAN OAKTON TYSONS VIENNA
NO. 38
JUNE 1-7, 2017
Low Inventory Giving an Edge to Home Sellers
VIVA! VIENNA! CELEBRATION DRAWS A CROWD
A New Analysis Suggests Fairfax Market Will Grow
The Northern Virginia real estate market eked out a modest year-over-year increase in sales in April, according to new data, with a smaller inventory of available properties and the potential of higher interest rates providing prospective buyers with incentive to hop into the market – all of which is tilting the market toward a sellers’ advantage as the spring buying season THE REST OF THE continues. And while the lower invento- COMMONWEALTH IS ry has some experts concerned, ALSO FACING LOWER a new analysis suggests Fairfax INVENTORY, HELPING County should continue to see TO TILT THE VIRGINIA a healthy homes market for the REAL-ESTATE MARKET rest of the year. Coupled with a rise in aver- TOWARD SELLERS. age sales prices, the monthly –> Story, Page 17 sales volume of $1.15 billion in April was up nearly 5 percent from a year before. A total of 1,996 properties went to closing during the month, up 1.1 percent from 1,973 a year before, according to figures reported May 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service. (Figures represent sales in Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church.) The average sales price of all properties that sold stood at $574,767, up 3.8 percent from a year before, with all three segments of the market posting increases: single-family prices rose 2.2 percent to an average $757,017; attached homes sold for an average of $421,435, up 5.3 percent; and condominiums changed hands at an average of $333,727,
Scenes (clockwise from top left) from the Viva! Vienna! celebration, held over the Memorial Day weekend: Chloe Lee gets her face painted by Fatima Jerez of Vienna Singing Princesses; Tessa Lebbin accepts a hug from Runyon, the mascot of Burke & Herbert Bank; Abby Lombard prepares to take a spoonful of a softball-sized snowcone; and Charles Dean reels in a plastic shark at the celebration, hosted by the Vienna Rotary Club. See more photos on Page 3 and a slide show of photos at www.insidenova. com/news/fairfax. PHOTOS BY BRIAN TROMPETER
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