Northern Virginia Home Sales May 2009

June 11, 2009

graphMay 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 5% increase over May 2008 home sales of 1,724. This is the 10th consecutive month of increased year-over-year sales.
  • Active listings are down 25% from last year, to 8,050. This represents less than a 4.5 month supply of homes for sale. The average days on market decreased by 14% to 76 days. Pending home sales in Northern Virginia increased 22% at over May 2008, the 14th straight month of year-over-year increase.
  • Sales prices continue to remain lower year over year. The average sales price in May fell 9% to $433,257, and the median price was $375,000, 7% lower than May 2008. However, these prices are 5-6% higher than April’s, which were higher than in March.

Clearly, these are warning signs for buyers that the bottom in Northern Virginia is long gone.

May2009

Kim Hannemann, Real Estate Consultant/Realtor®, Samson Realty
Cell: 703-861-9234 • Fax: 703-896-5055 • Email: KimTheAgent@gmail.com

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If you would like to discuss real estate questions, sell or buy a home in Northern Virginia – including Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax, Fairfax Station, Falls Church, Kingstowne, Lorton, McLean, Reston, Springfield, or Vienna – contact Kim today.

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