November 2011 Regional Home Sales

Northern Virginia: November 2011  

Download Report: Northern Virginia - November 2011

The Northern Virginia Association of Realtors® reports on November 2011 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 1,180 homes sold in November 2011, about 12 percent fewer than the 1,336 home sales in November 2010.

Active listings are down by about 14 percent from last year, with 3,859 active listings in November, compared with 4,474 homes available in November 2010. The average days on market (DOM) for homes in November 2011 was unchanged at 62 days, from November 2010.
 
Sales prices remained steady compared with this time last year. The average sale price in November was essentially unchanged compared with November 2010, at $470,270, compared with last November’s average of $470,202.
 
The median price of homes sold in Northern Virginia was $402,500, which is 2.5 percent lower than the November 2010 median of $392,650.

The number of new pending home sales in Northern Virginia in November decreased to 1,393 from last November’s 1,478 new contracts pending.

 The data that we use to calculate our NVAR market statistics reports come from RBIntel, a subsidiary of MRIS. Recently, RBIntel changed the method used to calculate certain data points. Using these revised calculations will result in changes to our reports from prior years.

Our 2011 reports, which include 2010 data, do include numbers calculated using the new RBIntel methods. All of our reports going forward will be created using the new calculations. Click here to learn more about the changes implemented by RBIntel. To view the RBI monthly market statistics for the NVAR region, click here.