Areahome sales continued to climb in July, although not as steeply as they hadduring the first six months of the year, including June, according to theNorthern Virginia Association of Realtors in its report on the region.
For all of Northern Virginia, total sales rose by 10.6 percent in July,as compared to the same month last year, to a total of 2,053 units. The mediansales price also rose by 2.8 percent to $410,000.
The average number of days a house spent on the market showed a welcomedecline, by 31.9 percent, to 62 days.
Condos Rule Region
Sales climbed in all categories throughout Northern Virginia but condosled the field, with a 22.1 percent hike, to 531 units sold. Single-family homesfollowed, with a 10 percent rise, to 976. Townhomes showed a more modest gainof 2.1 percent, to 546.
These figures seemed less impressive, however, compared to those for thefirst half of the year, ending in June. The total midseason increase was 11.9percent, with 8,965 units sold. For June alone, it was 14.2 percent, or 2,169.
City Sales Sizzle
The picture was far brighter for the City of Alexandria taken alone, whereJuly’s gains exceeded June’s, as compared to the same months last year.
Single-family houses soared the highest this July, with a 30 percenthike to 52 units sold. The median price declined by two percent, to $652,000.Condos followed, with a 21 percent increase, to 99 units, and another modesttwo-percent price decline, to a $277,500 median. Townhouse sales climbed by 2percent, to 65, but the median price rose by 5 percent, to $520,000.
In marked contrast to the region, Alexandria thus showed a markedimprovement this July over June 2009, as compared to the same month last year.
Single-family houses had also led the field this June, with a 24 percentincrease to 42 units sold. This was accompanied by a 13 percent median pricedecline, to $638,000. Condominiums sales rose by 9 percent, to 85, while themedian price remained unchanged, at $260,000. Townhouse purchases actuallyshowed a slight drop, by 7 percent, to 71 units, accompanied by a 4 percentincrease, to a $530,000 median price.
A Red-letter Month
For all of Northern Virginia, July 2009 was a red-letter month ascompared to the same period last year, when red ink ruled the report. In July2008, sales had fallen by 0.11 percent as compared to July 2007, and the medianprice had dropped by 16.88 percent to $399,000. The average number of days onthe market had risen by 37.88 percent, to 91, or a three months’ wait.
When it came to the separate categories, the July 2008 picture wasactually the reverse of the one seen this year. Condo sales had shown thedeepest drop during July last year. They had fallen by 19.1 percent, with 435units sold, as compared to July 2007.
Single-family homes had followed, with a 10.4-percent decline, to 887.Townhouses had made the best showing, by fallin
g only 1.7 percent, to 535.
It all went to show that the Northern Virginia market was still headedin a positive direction this July, even if it is not moving quite as quickly asAlexandria.