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Home Sales Increase in NoVa, Drop Off in DC

  • June 10th 2009

by Mark Wellborn

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Home Sales Increase in NoVa, Drop Off in DC: Figure 1
Home on the market in Arlington

It looks like home buyers were taking advantage of low prices in Northern Virginia last month, but not in DC.

The number of homes sold in Northern Virginia increased in May, according to Metropolitan Regional Information Systems, but sales in the District decreased by 9 percent over the same month last year.

In NoVa, home sales rose 5 percent compared to the same month last year. (Sales were up 6 percent in April.) Specifically, 1,803 homes sold in Northern Virginia last month compared with 1,724 in May 2008.

In DC, the news was not as good. 484 homes sold in May, down from 533 in May 2008. This almost double digit drop in sales was surprising given that the median sale price dropped 10 percent over the last year, from $440,000 to $394,950.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_sales_increase_in_nova_drop_off_in_dc/1013.

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