Browse by Tags

All Tags » Real Estate in NoVA   (RSS)
Northern Virginia Home Sales Report - from December 2008
28 January 09 12:21 PM | Elena & Kirill Gorbounov(a) | 0 Comments   
January 28th, 2009 The number of Greater Northern Virginia region homes sold in December was 3,032, a 48.63 percent increase from December 2007’s total of 2,040 sales. This marks the ninth consecutive month of increased year-over-year sales totals for Greater Northern Virginia. The average sales price of $334,239 in December 2008 continues to lag behind the 2007 average by about 31 percent. The December 2007 average sales price was $484,310. Across Greater Northern Virginia, the number of listings showed a decrease from 2007 numbers, with 15,890 listings active, which is 22.28 percent less than this time last year, when 20,445 homes were available. The average DOM for a home sold in December 2008 was 100 compared with last year’s 114 DOM, a decrease of 12.43 percent. Source: NVAR Read More...
Northern Virginia Housing Market Statistics - Things that you don't hear
15 December 08 12:08 PM | Elena & Kirill Gorbounov(a) | 0 Comments   
December 15th, 2008 Interesting Points: 1) The DC metro area has the lowest unemployment rate out of the fifteen largest metro areas and about two percentage points less than the national average. 2) According to a national survey conducted in 2004: the average renter's net worth: $4,800. The average homeowner's net worth: $171,000 3) In a recent survey, 8 out of 10 economists stated they believed housing prices would be higher five years from now. 4) An overwhelming majority of economists surveyed - by a better than 5-to-1 ratio - agreed with the statement, "A person can increase their long-term wealth by purchasing a house rather than renting." 5) Over the past 40 years, home values have risen more than 7 percent annually in NoVA. 6) People who purchased homes six years ago have, on average, seen the value of their homes rise over 24 percent, despite recent price declines. 7) Homeowners benefit from the power of leverage. At an annual appreciation rate of 5 percent, a 10 percent down payment on a home will return 94 percent after three years. After five years, it increases to 225 percent. After ten, 623 percent. 8) The median selling price of a single family FSBO in Virginia was $249,500 compared with $313,400 for REALTOR assisted home sales. Is 26% more for a seller's home worth paying a commission for? I'd like to think so. 9) Virginia's population is expected to grow by 500,000 by 2010. 10) RE/MAX Associates averaged 39 percent more transactions than our nearest national competitor. Read More...
Third Quarter 2008 Sales Compared to Third Quarter 2007
04 November 08 10:08 PM | Elena & Kirill Gorbounov(a) | 0 Comments   
A comparison of Third Quarter 2008 Sales Compared to Third Quarter 2007: Northern Virginia Association: Sales up 15.4%. Median price down 18.9%. Prince William Association: Sales up 144.6%. Median price down 42.4%. Read More...
Attachment(s): Picture3.jpg

This Blog

Tags

Syndication