September Home Sales Mark First 08 Increase

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For the first time this year, home sales rose as compared to the same month in 2007. September sales soared by 53.92 percent, to a total of 1,650. These encouraging statistics were reported this month by the Northern Virginia Association of Realtors for its area including Alexandria and Fairfax.

Sales rose for all categories, including single-family homes, townhouses and condos. Single-family home sales climbed from 424 to 674 for an increase of 58.96 percent. Townhouses soared from 301 to 554, or 84.05 percent. Condos advanced from 347 to 422, or 21.61 percent.

At the same time, the median sales price continued to fall. It declined by 20.85 percent, to $348,250. Days on the market increased by 9.41 percent, to a total of 93, or about three months waiting time.

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