Overall Northern Virginia Real Estate Market Update - May 2008
June 13th, 2008 Categories: Keller Williams, Property Values
The overall numbers for the Northern Virginia area are for the following areas: Fairfax and Arlington county, Alexandria city, Fall Church, Fairfax, Vienna, Herndon, and Clifton. More specific numbers are available by city, please feel free to call us and ask!
Average Day on the Market: 88 (up from 73 in 2007)
Total Units Sold: 1,724 (down about 5% from 2007)
Average May Sales Price: $478,672 (down about 13% from 2007)
Year-To-Date Average Sales Price: $480,534 (down about 9% from 2007)
These numbers don’t accurately reflect how certain markets are doing. Due to the large number of foreclosures in Fairfax county, the prices and time on the market is being swayed! Look for more specific information to follow about your city!
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