Market Report Northern VA August

Dated: 09/26/2013

Views: 451

The Northern Virginia Association of Realtors® reports on August 2013 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.A total of 2,052 homes sold in August 2013, a 12.87 percent increase above August 2012 home sales of 1,818.Active listings decreased by just 1.4 percent from last year, with 3,305 active listings in August, compared with 3,352 homes available in August 2012. The average days on market (DOM) for homes in August 2013 decreased by about 34 percent to 29 days, compared with 44 days in August 2012.

Prices held steady in August, with the average sales price up by 1.5 percent from August 2012, to $533,379, compared with last August’s average of $525,480.
The median price of homes sold in Northern Virginia rose by 3.64 percent in August to $470,000, compared with August 2012’s median price of $453,500.
The number of new pending home sales in Northern Virginia in August increased by about 2 percent to 1,771 compared with 1,739 new contracts pending in August 2012.

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