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Home Sales Increase 10% in Northern Virginia

  • March 11th 2009

by Mark Wellborn

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Home Sales Increase 10% in Northern Virginia: Figure 1
Old Town, Alexandria by NCinDC

It looks like at least some people in the area are jumping at the chance to buy homes at discounted prices. In Northern Virginia, the number of homes sold in February rose 10 percent as compared to the same month in 2008, according to the Washington Business Journal.

Specifically, 1,067 homes were sold last month in Northern Virginia compared to 969 in February 2008. This increase may be due to the fact that the median sale price of homes in NoVa dropped 23 percent in the last year.

Unfortunately, DC numbers were not quite as good. From the WBJ:

“There were 257 units sold [in DC], down from 369 homes sold in the same month last year, or a drop of 30 percent. The median sale price dropped 13 percent, from $414,000 in February 2008 to $360,000 last month. Units spent an average of 112 days, or 20 more days, on the market last month over February 2008.”

For the full article, click here.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_sales_increase_10_in_northern_virginia/644.

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