Alexandria city

Northern Virginia's residential real estate market in June had a billion-dollar sales month. That's the first time in almost three years that the region's home sales have reached a billion dollars.

A total of $1.07 billion worth of real estate transactions closed in June, according to Metropolitan Regional Information Systems Inc., the area’s multiple-listing service. That’s a 9.3% increase over the $978.99 million logged last year, and is the highest one-month total since June 2007.

Increases in sales volume suggest that the region's real estate market is recovering. That's good news for homeowners, who may see the value and saleability of their properties increase.

Read more in the Sun Gazette....

Four Virginia cities are listed in Money Magazine's top 100 small cities in America. Centreville was ranked 30th, Alexandria 47th, Chesapeake 85th, and Suffolk 91st on the list.

Researchers compiling the list took into account median family incomes, education, housing prices, community amenities, and more.

Inclusion in a list such as this one may boost a city's popularity, possibly impacting property values in a positive way.

Read more at CNNMoney.com....

Richmond-area residents will have another option for travelling to Washington starting July 20, when a new commonwealth-funded train will begin operating. The train will leave Richmond at 7 a.m. and stop at Ashland, Fredericksburg, Quantico, Woodbridge, and Alexandria before arriving in Washington at 9:30 a.m. The return train will leave Washington's Union Station at 3:55 p.m.

The train will benefit homeowners who live near the planned stopping points, offering them another option to move around the often heavily congested Richmond-Washington corridor.

Read more in The Washington Post....

Local transit companies in the Washington area are serving more riders, but the cost to run the services is rising. For example, the cost of running Metro has grown by at least 28% over a four-year period,  more than five times faster than ridership grew during that time.

Access to reliable, affordable transit options is important to homeowners who commute within the metropolitan Washington area. Even homeowners who do not use the services themselves can benefit. The availability of public transportation can boost the attractiveness -- and sale price -- of nearby homes.

Read more in The Washington Examiner....

Northern Virginia saw some of the nation's highest growth last year, despite the recession.

• Alexandria added 5,400 residents last year, a 3.8% increase
• Arlington County gained 7,300, a 3.5% increase
• Fairfax County added 18,000 more people, a 1.8% increase
• Loudoun County added 11,000 residents, a 3.8% increase
• Prince William County grew by 13,000 new residents, a 3.6% increase

"There's a high quality of urban life in this area," said William H. Frey, a demographer for the Brookings Institution.

Homeowners benefit from population growth, which grows the economy and promotes a healthy real estate market.

Read more in The Washington Post....