The real estate market continues to heat back up again both locally and nationwide. 

 The total sales volume for Great Falls, Va. saw a dramatic increase in total dollar volume of almost 50 percent.  July 2008 sales totaled $19,589,000 compared to $29,168,000 this year.  Twenty-five homes sold in the 22066 zip code this year while only 20 sold during the same period last year.  Inventory numbers are still high in Great Falls at a level of about 8.5 months.  A four month inventory is considered a balanced market.  Anything more than five months is a buyers market and less than three is a sellers market.

The three Reston zip codes saw an increase in sales from 93 last year to 130 this year.  Inventory levels for the three area stand at just over 2.5 months. 

The three Vienna zip codes experienced an increase from 87-101 sales.  Current inventory levels stand at approximately three months with a total of 316 homes on the market at this time.

Mclean actually saw a slight dip in sales from 81 in July 07 to 77 this July.  Inventory levels are at slight over four months.

Please feel free to drop a quick e-mail if you would like to know the numbers for your area or would like more detailed info on any of the above statistics.