June 2009 Regional Home Sales
by Tyler on 07/10/09
Northern Virginia: June 2009
The Northern Virginia Association of Realtors® reports on June 2009 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 2,169 homes sold in June 2009, a 14.16 percent increase above June 2008 home sales of 1,900.
Active listings decreased by 27 percent from last year, with 7,617 active listings in June, compared with 10,440 homes available in June 2008. The average days on market (DOM) for homes in June 2009 decreased by 14.46 percent to 71 days, compared with 83 days in June 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in June fell by 7.42 percent from June 2008, to $451,354, compared with last June’s average of $487,549.
The median price of homes sold in Northern Virginia in June was $392,367, which is a decline of 5.68 percent compared with June 2008’s median price of $416,000.
The number of pending home sales in Northern Virginia in June shows an increase of 17.12 percent at 2,463 compared to 2,103 in June 2008.
Greater Northern Virginia: June 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for June 2009 shows a very slight increase from June 2008.
The number of Greater Northern Virginia region homes sold in June was 3,657, a 2 percent increase from June 2008’s total of 3,586 sales. Along with the increase in home sales for June, there was also an increase in the number of pending home sales, from June 2008’s 4,054 to 4,465 pending sales in June 2009, a 10.14 percent climb.
The average sales price of $382,980 in June 2009 continues to lag behind the 2008 average by only 6.91 percent. The June 2008 average sales price was $411,388.
Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 14,730 listings active, which is 34.54 percent less than this time last year, when 22,501 homes were available. The average DOM for a home sold in June 2009 was 75 compared with last year’s 99 DOM, a decrease of 23.88 percent.
Source: NVAR (7/10/2009)
