August 2009 Regional Homes Sales
by Tyler on 09/25/09
Northern Virginia: August 2009
The Northern Virginia Association of Realtors® reports on August 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 1,813 homes sold in August 2009, a less than 1 percent increase above August 2008 home sales of 1,812.
Active listings decreased by 23.66 percent from last year, with 7,016 active listings in August, compared with 9,190 homes available in August 2008. The average days on market (DOM) for homes in August 2009 decreased by 27.59 percent to 63 days, compared with 87 days in August 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in August fell by 3.17 percent from August 2008, to $458,172, compared with last August’s average of $473,183.
However, the median price of homes sold in Northern Virginia rose in August to $395,000, which is an increase of 1.31 percent compared with August 2008’s median price of $389,900.
The number of pending home sales in Northern Virginia in August shows an increase of 9.70 percent at 2,070 compared to 1,887 in August 2008.
Source: NVAR August 2009
