According to the
statistics of The Northern Virginia Association of Realtors® in May
2009 home sales activity for Northern VA were up from this time last
year. This area includes Fairfax and Arlington counties, the cities of
Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon
and Clifton.
A total of 1,803
homes sold in May 2009, a 4.6 percent increase above May 2008 home
sales of 1,724. There was also a decrease in the inventory for the same
period. This is good news for sellers.
The good news for
Buyers is the sales prices continue to remain lower than those realized
last year. The average sales price in May fell by 9.5 percent from May
2008, to $433,257, compared with last May's average of $478,672.
There was a very small
drop off however in the outlieing areas of Prince William, Loudoun and
the Greater Piedmont counties) forthe same period. This is showing us
what we see every day, and that is the economic recovery started inside
the Beltway, and is working its way to the suburbs.
We are also seeing certain areas like North Arlington making a very
fast comeback, and for the most part that area has started showing new
growth. This is very good news for all.