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The Northern Virginia Association of Realtors® reports on July 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 2,053 homes sold in July 2009, a 10.55 percent increase above July 2008 home sales of 1,857.
Active listings decreased by 25.62 percent from last year, with 7,439 active listings in July, compared with 10,002 homes available in July 2008. The average days on market (DOM) for homes in July 2009 decreased by 31.87 percent to 62 days, compared with 91 days in July 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in July fell by 5.03 percent from July 2008, to $460,807, compared with last July's average of $485,225.
However, the median price of homes sold in Northern Virginia rose in July to $410,000, which is an increase of 2.76 percent compared with July 2008's median price of $399,000.
The number of pending home sales in Northern Virginia in July shows an increase of 10.21 percent at 2,266 compared to 2,056 in July 2008.
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