Thursday, May 19, 2011

Northern Virginia home sales up 5% - The Business Journal of Milwaukee:

tenamup.wordpress.com
During the month, 1,803 homes were sold in the area, which includes the cities of Alexandria, Fairfax and Falls Churcjh as well as the counties of Fairfax and accordingto Rockville-based market research firm In the same month in 2008, the number of homes sold was 1,724. The medianm sale price of a home in the area fell 7 percent in Mayto $375,000, according to D.C. home sales did not do as well last month. Therew were 484 units sold, down 9 percent from 533 homex sold in the same monthblast year. The median sale pric dropped 10 percent, from $440,000 in May 2008 to $394,950 last month. Units spent an average of 91 or 13more days, on the market last montjh over May 2008.
Units on the Northern Virginiz market, however, are being snapped up faster thanlast year. Homes are spendiny an average of 76 days on the or 13 less days than the same periods ayear ago. In Fairfac County, 1,331 homes were sold in May. That is up 4 percen t compared with ayear ago. The mediaj sale price dipped nearly 10 percentto $360,00o0 last month. In Arlington County, the mediahn sale price was up 11 percentto $469,00o and 239 homes were sold up nearly 5 percenr from the same month a year ago. Prince Willianm County experienced a 4 percent increases in sales of753 homes, compared with 724 homes sold in May 2008.
The medianm sale price was down nearly 19 percent to Units spent an average of78 days, or 50 less days on the than in May 2008. Prince George’s County home saleas were up 28 percent, with 494 unite sold last month. The median sale priced was down 21 percentrto $224,900, but homes spent, on average, 33 more days on the marketf than they did in May 2008. Montgomerty County home sales last month totaled874 units. The media sale price was down 13 percentto $358,117, and homexs spent, on average, two more days on the markert than they did in May 2008.

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