NORTHERN VIRGINIA REAL ESTATE MARKET REPORT MAY 2004 - MAY 2008. MEMO: The statistics below is the reason it's a good time to buy a home in Northern Virginia. Sellers who keep their prices high do not sell. Sellers who price to sell, DO.
We are still in a buyer's market.
HISTORY OF SOLD PRICES AND NUMBERS OF PROPERTIES SOLD IN MAY 2004-2008, includes Single Family Homes in Northern Virginia, Town Homes in Northern Virginia and Condo Homes in Northern Virginia.
Closed sales May 2008 - 165 / Average SOLD price - $518,773
Closed sales May 2007 - 221 / Average SOLD price - $546,522
Closed sales May 2006 - 225 / Average SOLD price - $535,381
Closed sales May 2005 - 342 / Average SOLD price - $498,880
Closed sales May 2004 - 291 / Average SOLD price - $413,628
ARLINGTON COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 194 / Average SOLD price - $544,742
Closed sales May 2007 - 337 / Average SOLD price - $582,742
Closed sales May 2006 - 293 / Average SOLD price - $591,376
Closed sales May 2005 - 386 / Average SOLD price - $547,111
Closed sales May 2004 - 342 / Average SOLD price - $432,965
CULPEPER COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 52 / Average SOLD price - $291,578
Closed sales May 2007 - 43 / Average SOLD price - $561,935
Closed sales May 2006 - 71 / Average SOLD price - $372,035
Closed sales May 2005 - 108 / Average SOLD price - $333,736
Closed sales May 2004 - 75 / Average SOLD price - $292,659
FAIRFAX COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 1099 / Average SOLD price - $495,235
Closed sales May 2007 - 1331 / Average SOLD price - $561,935
Closed sales May 2006 - 1664 / Average SOLD price - $557,641
Closed sales May 2005 - 2526 / Average SOLD price - $538,015
Closed sales May 2004 - 2277 / Average SOLD price - $439,294
FAUQUIER COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 38 / Average SOLD price - $544,942
Closed sales May 2007 - 58 / Average SOLD price - $493,979
Closed sales May 2006 - 97 / Average SOLD price - $511,728
Closed sales May 2005 - 132 / Average SOLD price - $625,107
Closed sales May 2004 - 125 / Average SOLD price - $385,615
KING GEORGE COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 9 / Average SOLD price - $317,361
Closed sales May 2007 - 35 / Average SOLD price - $307,170
Closed sales May 2006 - 33 / Average SOLD price - $348,226
Closed sales May 2005 - 35 / Average SOLD price - $302,993
Closed sales May 2004 - 23 / Average SOLD price - $252,770
LOUDOUN COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 424 / Average SOLD price - $407,644
Closed sales May 2007 - 501 / Average SOLD price - $534,194
Closed sales May 2006 - 536 / Average SOLD price - $561,051
Closed sales May 2005 - 892 / Average SOLD price - $517,556
Closed sales May 2004 - 793 / Average SOLD price - $419,424
PRINCE WILLIAM VIRGINIA HOMES SOLD
Closed sales May 2008 - 558 / Average SOLD price - $294,862
Closed sales May 2007 - 475 / Average SOLD price - $409,616
Closed sales May 2006 - 740 / Average SOLD price - $448,823
Closed sales May 2005 - 1186 / Average SOLD price - $416,493
Closed sales May 2004 - 966 / Average SOLD price - $322,723
SPOTSYLVANIA COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 91 / Average SOLD price - $307,211
Closed sales May 2007 - 161 / Average SOLD price - $349,610
Closed sales May 2006 - 240 / Average SOLD price - $338,647
Closed sales May 2005 - 309 / Average SOLD price - $322,543
Closed sales May 2004 - 269 / Average SOLD price - $249,278
STAFFORD COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 118 / Average SOLD price - $317,049
Closed sales May 2007 - 153 / Average SOLD price - $404,703
Closed sales May 2006 - 207 / Average SOLD price - $431,373
Closed sales May 2005 - 302 / Average SOLD price - $382,234
Closed sales May 2004 - 281 / Average SOLD price - $303,153
WESTMORLAND COUNTY VIRGINIA HOMES SOLD
Closed sales May 2008 - 14 / Average SOLD price - $236,854
Closed sales May 2007 - 19 / Average SOLD price - $307,068
Closed sales May 2006 - 25 / Average SOLD price - $272,819
Closed sales May 2005 - 28 / Average SOLD price - $252,403
Closed sales May 2004 - 22 / Average SOLD price - $185,938
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Click on any of the images for larger view.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
Homefinders.com Network of Virginia Agents and Brokers Are Full Time REALTORS®. By working with buyer's agents who are REALTOR®, you can be sure that your agent is aware of the responsibilities of a real estate agent to represent the interests of their client whether it be a Virginia home buyer or seller. Homefinders broker partners adhere to the high standards of the REALTOR® Code of Ethics.
CONTACT HOMEFINDERS FOR A TOUR OF HOMES. We'll show you what your money will buy in the Northern Virginia real estate market. Homefinders network includes agents and brokers who are experienced with Buyers Agency, Listing Services, Short Sales, Foreclosures and New Homes Sales. Contact us. We can help.
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Always interesting how some pockets in the same general area do better than others.
All the best!
Good Morning Lenn, The statistics bear out that you are still well centered in a very vital market area. Very interesting read and actually a very hopeful market report.
Kevin. Thanks. Actually, the proximity to Washington DC is one of the factors in pricing.
William. Thanks. Now go do one for your area. We keep seeing stats for the present price, but there's so much more involved that just price. I want the consumer to see that prices and # of sales has gone up, but that they have come back down too.
Good info it looks like your area has not been hit nearly as bad as we have I hope to see the market improve here thanks for the analysis
Lenn: You do a fabulous job of presenting your area--I love your maps (have I said that before?)!!
Lenn - what a great way to present the variations in local markets, while breaking down numbers AND prices so Buyers/Sellers in their decision making process can see when low sales volume can skew the numbers.