Real Estate Sales in Northern Virginia

The National Association of Realtors reports that sales are showed an upward trend during September.

Fairfax VA Homes For Sale

In Fairfax City VA, new contracts rose 42% during the month. Single family homes sold in the range of $300,000 and $600,000 rose over 50%. Sales of million dollar homes rose substantially. Their monthly report reveals the 60% of homes sold were listed between $400,000 and $600,000. Single family homes for sale (listing inventories) peaked in July and are on the decline, yet there is an abundance of available properties. Last September there were 60 available homes for sale while at this time (Oct) there are 114 listings. Condos and coop sales were up in September yet overall statistics including listings of available homes sale were down.

In Fairfax County, single family homes for sale topped 6500 in July and have take a slight dip since then. New listings and contracts in September were down substantially.

In Arlington County, contracts were up slightly from August with homes in the $300,000 to $500,000 price range showing the greatest increase in sales. Available condos are much lower than in September of 2005 although contracts during the month were nearly the same as in September 2005. Sales have declined from the three summer months of June, July and August. 77% of the homes available for sale are in the $200,000 to $600,000 price range.

NVAR states that houses are taking longer to sell, now up to 76 days. Active listings grew by 66 per cent. Average prices have increased from 252,000 in 2000, to 538,000 in 2006 despite the fact that only 4,000 more units were sold in 2006 compared to 2000.

Google Trends reports that searches for Virginia Real Estate are up during 2006. They typically begin strongly in January with the lowest interest during October and November of each year. The market as shown by Google appears to have begun a downward trend beginning at the beginning of July in 2005, however in July of 2006, the volume of searches had neared it's 2005 highs. Searches for Virginia Homes have almost reached similar levels as in the summer of 2006. Overall, searches for Real estate, have climbed back up near to levels seen in 2004.

The Northern Virginia Association of Realtors provides information drawn from its member database of home listings, contracts and sales activities.

For all your Fairfax real estate needs, please contact John at Keller Williams Fairfax Gateway 12700 Fair Lakes Circle, Fairfax VA.

Check for VA homes and VA condos for sale in the following communities: Annandale, Centreville, Burke, Chantilly, Dunn Loring, Fairfax City, Leesburg, Mantua, Merrifield, Oakton, Reston, and Vienna.

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