We take a look at what is happening in the Northern Virginia real estate market.

The Northern Virginia real estate market made an uptick at the beginning of the year with a total of 1,127 homes sold this January, a 2.83 percent increase above January 2018 home sales of 1,097.

However, we are still seeing low inventory, and if homes are priced right they are moving fast.

Listings were down about 20 percent below last year, with 1,750 active listings in January, compared with 2,193 homes available in January 2018. The average days on market (DOM) for homes in January 2019 was 63 days, a decrease of 21.25 percent compared to the 80 DOM for homes in January 2018.

The average home sale price fell by less than 1 percent compared with last January, to $565,032. This is just 0.47 percent below the January 2018 average price of $567,710.

The median sold price of homes this January, which was $495,000, rose by 4.21 percent compared to the median price of $475,000 in January 2018.

The 1,356 new pending home sales in Northern Virginia in January were 6.09 percent below the 1,444 contracts that were pending in January last year.