Keller Williams Examines the Northern Virginia Real Estate Market - January 2008
February 12th, 2008 Categories: Keller Williams, Real Estate News
How did the Northern Virginia* area do during the month of January? Let’s take a look:
January 2008 Home Sales
Detached: 299
Attached: 201
Condo/Co-ops: 216
Total January Sales: 716
Average Days on Market: 123
Total Active Listings: 8,939
Average Sales Price: $486,060
Median Sales Price: $400,000
YTD Sales Volume: $348,018,904
All numbers and figures courtesy of NVAR’s January 2008 Market Summary Report.
Compared to January 2007, 2008 Average Sales Prices are about 7% less, but there was also about a 29% increase in SUPPLY (active listings), explaining why sales prices were slightly lower - more bargaining power!
(*Northern Virginia area includes the counties of Fairfax and Arlington, and the cities of Alexandria, Falls Church, Fairfax; and the towns of Vienna, Herndon, and Clifton.)
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