Sales reports are finally in for September here in Northern Virginia. This report includes all sales for Fairfax and Arlington counties, Alexandria, Falls Church, Fairfax, Vienna, Herndon, and Clifton.
Here's how September wrapped up:
Total # of Sales: 1,650
Average Days on the Market: 93
Absorption Rate: 5.52 months
Average Sale Price: $407,748 (down about 23% from 9/07)
YTD Average Sales Price: $465,891 (down about 14% from 9/07)
Arlington Market:
There were 202 sales in Arlington in the month of September.
Of those, only 12 were over $1m.
Only 68 of the remaining sales were over $500k.
What does this mean? High price homes are sitting longer in this market, as the crack down has really tightened up lending.
There are still some good deals happening here in Arlington, many with built in equity. Want to see what your options are?
Call me...703.283.6120
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