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Home Sales Increase in DC and Northern Virginia

  • April 13th 2009

by Mark Wellborn

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Home Sales Increase in DC and Northern Virginia: Figure 1
Home on the market in Arlington

The number of homes sold in Northern Virginia and DC increased in March, according to Metropolitan Regional Information Systems, yet one more sign that bargain hunters are taking advantage of low home prices. In NoVa, home sales rose 11 percent, and in DC sales increased fractionally.

Specifically, 1,384 homes sold in Northern Virginia in March compared with 1,250 in March 2008. In DC, 399 homes sold, an increase of six sales over the same month last year (393).

In DC, properties were spending almost two more weeks on the market than they were a year ago, but the median sale price dropped from $399,500 to $375,000. In NoVa, properties are actually spending on average three weeks less time on the market than a year ago, and the median sale price has dropped in Fairfax and Arlington County.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_sales_increase_in_dc_and_northern_virginia/792.

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