National trends may be continuing to decline, but in Alexandria, Arlington, and nearby parts of Northern Virginia real estate is showing two signs of a comeback. According to an MRIS Press Release: "Selling prices remain flat metro wide in the Greater Washington DC region, but the central jurisdictions---DC, Alexandria, and Arlington and Montgomery counties---continue to buck the trend."
John McClain, Senior Fellow at George Mason University's School of Public Policy, was quoted by them as saying, "Prices continue to rise in the central jurisdictions. They're in a much better price position due to their premium location."
The most dramatic is an increase in prices of home sales, but equally important is the shortening of time properties are on the market. These two combine to reduce the available inventory available to buyers. Waiting can be a shortcut to loss, so holding off in anticipation of falling prices can leave you kicking yourself for missing good deals.
