September 2011 Regional Home Sales

Northern Virginia: September 2011

The Northern Virginia Association of Realtors® reports on September 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 1,293 homes sold in September 2011, as about 7 percent fewer than the 1,393 home sales in September 2010.

Active listings are down by about 11 percent from last year, with 4,871 active listings in September, compared with 5,470 homes available in September 2010. The average days on market (DOM) for homes in September 2011 was up by about 17 percent to 62 days, compared with 53 days in September 2010.
 
Sales prices increased compared with last year. The average sales price in September was up by about 8 percent from September 2010, to $504,398, compared with last September’s average of $468,525.
 
The median price of homes sold in Northern Virginia was $424,000, about 7 percent above the September 2010 median of $395,000.

The number of new pending home sales in Northern Virginia in September showed an increase of about 5 percent at 1,425 compared to 1,355 new contracts pending in September 2010. 

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.