NVAR: Northern Virginia Homes Sales Up, Prices Down

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While more attached and detached homes sold in July 2008 (the most recent month for which statistics are available), the average price was down a little over $69,000 compared with July 2007.

Fewer detached homes were listed this year (4,743) than last (4,828). The Northern Virginia Association of Realtors July Home Sales Report shows 887 detached homes changing hands in 2008, 92 more than the 795 sold in the same period last year.

Fewer attached homes also were on the market in July 2008 (2,686) compared with July 2007 (2,750), yet 535 attached homes sold in July of this year, nine more than  the 526 sold in July 2007.

Condos and co-ops did not fare as well, with sales dropping to 435 in July 2008, from 538 in July 2007.

The average price of homes sold in July 2008 was $485,225, while the average for July 2007 was $554,274, down $69,049. The total number of homes sold so far in 2008 is 9871 down by 1,999 over the same time last year.

The data above, provided by the Northern Virginia Association of Realtors, is believed to be accurate at the time of publication. Please check the NVAR Web site, www.nvar.com/market, for further information.

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