The Virginia Association of Realtors just issued its 2012 housing market review called Pieces of Home: 2012 Virginia Housing Market Report. The report offers housing data and comparisons by region within the state. The report highlights market information some of which will comes as no surprise, such as housing prices are up, foreclosures are down, inventory remains low and credit remains tight.
The interesting parts (for me) are the comparisons between Northern Virginia and other regions. For instance, the region with the highest percent of growth in the number of units sold was not Northern Virginia but the Central Region at 11.05% growth over 2011. Northern Virginia came in at 8.57%. Also notable was the fact that Northern Virginia had by far the highest percent change in median sales price at 7.94% growth over 2011 and the next highest was the Hampton Roads & Chesapeake Bay Region at 2.56% growth (what a spread).
Looking ahead Mary Dykstra, president of the Virginia Association of Realtors, sums it up nicely when she states, "... be hopeful, but also know that this recovery is still fragile, and its sustainability will depend largely on how our federal government deals with the fiscal and regulatory issues it now faces."