Home Sales Increase in NoVa, Drop Off in DC
Home on the market in Arlington
It looks like home buyers were taking advantage of low prices in Northern Virginia last month, but not in DC.
The number of homes sold in Northern Virginia increased in May, according to Metropolitan Regional Information Systems, but sales in the District decreased by 9 percent over the same month last year.
In NoVa, home sales rose 5 percent compared to the same month last year. (Sales were up 6 percent in April.) Specifically, 1,803 homes sold in Northern Virginia last month compared with 1,724 in May 2008.
In DC, the news was not as good. 484 homes sold in May, down from 533 in May 2008. This almost double digit drop in sales was surprising given that the median sale price dropped 10 percent over the last year, from $440,000 to $394,950.
This article originally published at https://dc.urbanturf.com/articles/blog/home_sales_increase_in_nova_drop_off_in_dc/1013.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro