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September 2009 Market Statistics

Northern Virginia: September 2009
The Northern Virginia Association of Realtors® reports on September 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 1,684 homes sold in September 2009, a 2.06% increase above September 2008 home sales of 1,650. Active listings decreased by 24.40% from last year, with 6,889 active listings in September, compared with 9,112 homes available in September 2008. The average days on market (DOM) for homes in September 2009 decreased by 32.26% to 63 days, compared with 93 days in September 2008.

Sales prices peaked compared to those realized last year. The average sales price in September increased by 4.94% from September 2008, to $427,881, compared with last September’s average of $407,748.

The median price of homes sold in Northern Virginia rose in September to $375,000, which is an increase of 7.68% compared with September 2008’s median price of $348,250.
The number of pending home sales in Northern Virginia in September shows an increase of 13.22% at 2,012 compared to 1,777 in September 2008.

Greater Northern Virginia: September 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for September 2009 shows a decrease from September 2008.

The number of Greater Northern Virginia region homes sold in September was 2,961, an 11.88% decrease from September 2008’s total of 3,360 sales. Pending home sales showed a slight increase of less than one percent from September 2008’s 3,741 to 3,770 in September 2009.

The average sales price of $366,798 in September 2009 increased by 10.21% over September 2008’s average sales price of $332,803.

Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 13,666 listings active, which is 28.45% less than this time last year, when 19,100 homes were available. The average DOM for a home sold in September 2009 was 62 compared with last year’s 101 DOM, a decrease of 38.82%.

Source: NVAR September 2009

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