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January Sales in Northern Virginia 2009 - Important to READ (DOM; Prices; Trends; Inventory; Sales)
14 February 09 08:29 AM | Elena & Kirill Gorbounov(a) | 0 Comments   

In January, 998 homes were sold in the area as opposed to January 2008 where the number of homes sold was 716. This means that sales went up by 39%. Also, the average Days On the Marketis 99 days in contrast to 123 days during the same period a year ago. In Fairfax County 790 homes were sold in January, which is an increase of 47% compared with a year ago, while in Arlington sales went up by 26%. At the same time the median sale price dipped nearly 22 percent to $309,449 last month. ~source: Washington Business Journal The inventory of homes for sale in January of 2008 was 79,060 while for January of this year it is 65,992 properties --- a reduction of 16.5% in inventory! Months Supply of Inventory for Jan 2008 was 8.6 while for Jan of this year it is 7.8 months --- decline of 9.6% (less inventory). Pending Sales last year same month 6,902 while this year 8,028 --- 16.3% increase. Average Sales Price went down by 18.2% fyi: percentage of original list price is in the 90's meaning that if the property is for 100K on average buyers get it for 90K sales price! Read More...

Filed under: northern virginia, 2009, January Sales in Northern Virginia, arlington, fairfax, Days on the market dow, buyers, months supply, average sales price, inventory reduction, sale, percentage of originial list price, pending sales increase

Statistics on Northern Virginia.
25 November 08 10:24 PM | Elena & Kirill Gorbounov(a) | 0 Comments   

......5) Demand is on the Rise - In the third quarter 2008, mortgage applications climbed 13 out of 24 weeks and statewide the number of homes on the market has continued to decline since January — a sign that prices may begin to rise. 6) The Future Looks Brighter – Lower interest rates mean more buyers can afford to purchase, which means less inventory (supply vs. demand). Read More...

Filed under: Foreclosures, Present and Future, Northern Virginia Statistics, sales, 2009, closing costs, Virginia, companies, fannie, foreclosres, freddie, economy healthy and growing, mortgage bankers association, nation, jobs, lenders, interest rates