The NVAR released its June 2008 Northern VA stats for the month. They are below:
Total June 2008 Home Sales: 1,900 (down from 2,001 in 2007)
-Townhouse sales were up from 2007, but single family and condos were both down slightly
Average June 2008 Sales Price: $487,549 (down from $569,826 in 2007)
Average Days on the Market in June 2008: 83 (up from 65 in 2007)
People talk about how bad, and slow and dead the market is...but look at these numbers....things may be sitting for a few more days, but they're still getting sold for anything from 90-95% (or higher) of listing prices. It's not dead, sellers may be motivated, but nobody is GIVING things way. It's still a GREAT time to buy in Northern Virginia. Especially with recent rates, call me today!
These numbers are for the entire Northern VA area, including the counties of Arlington and Fairfax, and the cities of Alexandria, Falls Church, Fairfax, and the towns of Vienna, Herndon, and Clifton. Keep in mind, Fairfax has had an increase in foreclosures and short sales which will affect these overall numbers.
Stay tuned for more stats by city....
My best, Laura Rubinchuk
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