Northern Virginia: May 2009 Home Sales
Northern Virginia: May 2009
The Northern Virginia Association of Realtors® reports on May 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 1,803 homes sold in May 2009, a 4.6 percent increase above May 2008 home sales of 1,724.
Active listings decreased by 25.17 percent from last year, with 8,050 active listings in May, compared with 10,757 homes available in May 2008. The average days on market (DOM) for homes in May 2009 decreased by 14 percent to 76 days, compared with 88 days in May 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in May fell by 9.5 percent from May 2008, to $433,257, compared with last May's average of $478,672.
The median price of homes sold in Northern Virginia in May was $375,000, which is a decline of 7.41 percent compared with May 2008's median price of $405,000.
The number of pending home sales in Northern Virginia in May shows an increase of 22 percent at 2,637 compared to 2,166 in May 2008.
Greater Northern Virginia: May 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for May 2009 shows a very slight decrease from May 2008.
The number of Greater Northern Virginia region homes sold in May was 3,262, a 3.89 percent decrease from May 2008's total of 3,394 sales. While there may be a slight decrease for home sales in May, the number of pending home sales has increased from May 2008's pending home sales of 4,305 to 4,782 in May 2009, a 22 percent climb.
The average sales price of $362,327 in May 2009 continues to lag behind the 2008 average by only 11 percent. The May 2008 average sales price was $406,899.
Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 15,208 listings active, which is 33 percent less than this time last year, when 22,625 homes were available. The average DOM for a home sold in May 2009 was 80 compared with last year's 103 DOM, a decrease of 22.5 percent.
The Northern Virginia Association of Realtors® reports on May 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 1,803 homes sold in May 2009, a 4.6 percent increase above May 2008 home sales of 1,724.
Active listings decreased by 25.17 percent from last year, with 8,050 active listings in May, compared with 10,757 homes available in May 2008. The average days on market (DOM) for homes in May 2009 decreased by 14 percent to 76 days, compared with 88 days in May 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in May fell by 9.5 percent from May 2008, to $433,257, compared with last May's average of $478,672.
The median price of homes sold in Northern Virginia in May was $375,000, which is a decline of 7.41 percent compared with May 2008's median price of $405,000.
The number of pending home sales in Northern Virginia in May shows an increase of 22 percent at 2,637 compared to 2,166 in May 2008.
Greater Northern Virginia: May 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for May 2009 shows a very slight decrease from May 2008.
The number of Greater Northern Virginia region homes sold in May was 3,262, a 3.89 percent decrease from May 2008's total of 3,394 sales. While there may be a slight decrease for home sales in May, the number of pending home sales has increased from May 2008's pending home sales of 4,305 to 4,782 in May 2009, a 22 percent climb.
The average sales price of $362,327 in May 2009 continues to lag behind the 2008 average by only 11 percent. The May 2008 average sales price was $406,899.
Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 15,208 listings active, which is 33 percent less than this time last year, when 22,625 homes were available. The average DOM for a home sold in May 2009 was 80 compared with last year's 103 DOM, a decrease of 22.5 percent.
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