Home Page > News > Local > Local Stories
Print
Print
Email
Email

Most Viewed

Hot Topics

/
/

Home Sales Down Compared to Last Summer

September 5, 2005 - 2:59pm
FAIRFAX, Va. - Buyers, sellers and real estate agents in northern Virginia will be watching home sales after Labor Day to determine if the real estate bubble in their own backyard has finally burst.

Sales in Fairfax County dropped almost eight-percent in July compared to last year. In Arlington, they tumbled nearly 19-percent due to a sharp decline in condo sales. Only Prince William saw a modest three-percent rise.

And in Fairfax, the average price a single-family home or townhouse fell $19,000 from June, down to $597,000. There were more houses for sale, and they stayed on the market longer.

It's good news for would-be buyers who have waited on the sidelines or taken part in frantic bidding wars.

But the Northern Virginia Association of Realtors says sellers shouldn't panic. They note that overall, home prices are holding and even rising. They predict annual increases around 10-percent.

(Copyright 2005 by The Associated Press. All Rights Reserved.)


< Back
 

Picture This

Photo of the Day
Playing Catch
 Pictures of the Week  Sports  People  More
 


 
Home | Site Map | Advertise with Us |  Contact Us | Privacy Statement | Terms of Use | Copyright Infringement
 | EEO Public File Report | Bonneville International RSS Feeds RSS Feeds  Podcasts Podcasts
AP material Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.