Year over year home prices are up in Northern Virginia / December report

This monthly Market Update separately includes the Northern Virginia Association of Realtors, the Dulles Association of Realtors (Loudoun County), and the Prince William Association of Realtors.  Numbers do not include new homes not listed on MRIS, which are probably not significant at this time.

Improved numbers are in green. Worse numbers are in red.

NORTHERN VIRGINIA ASSOCIATION OF REALTORS

 

December listings compared to November: Decreased 11% to 5,421.

 

December sales units compared to November: Decreased 14% to 1,349.

 

December 2009 Sales Units compared to December 2008 Sales Units: Down 11%

 

The average sold price for all homes in December was $474,104, Up 12% compared to 2008.

 

Absorption Rate* comparing July thru December 2009:

 

	JUL	AUG	SEP	OCT	NOV	DEC
Under 249,999	117 days	71 days	130 days	115 days	120 days	143 days
250,000 - 299,999	107 days	110 days	106 days	99 days	97 days	115 days
300,000 - 399,999	93 days	88 days	83 days	94 days	85 days	95 days
400,000 - 499,999	71 days	82 days	83 days	101 days	82 days	108 days
Over 500,000	131 days	131 days	176 days	193 days	160 days	128 days

 

DULLES ASSOCIATION OF REALTORS (LOUDOUN COUNTY)

 

December listings compared to November: Decreased 8% to 1,806.

 

December sales units compared to November: Increased 6% to 391.

 

December 2009 Sales Units compared to December 2008 Sales Units: Increased 6%.

 

The average sold price for all homes for December was $393,735, Up 11% compared to 2008.

 

Absorption Rate* comparing July thru December 2009:

 

	JUL	AUG	SEP	OCT	NOV	DEC
Under 249,999	137 days	132 days	122 days	129 days	137 days	132 days
250,000 - 299,999	92 days	101 days	136 days	109 days	89 days	83 days
300,000 - 399,999	103 days	97 days	92 days	99 days	106 days	101 days
400,000 - 499,999	104 days	145 days	153 days	114 days	163 days	120 days
Over 500,000	244 days	193 days	235 days	253 days	249 days	188 days

 

PRINCE WILLIAM ASSOCIATION OF REALTORS

 

December listings compared to November: Decreased 4% to 2,630.

 

December sales units compared to November: Decreased 11% to 578

 

December 2009 Sales Units compared to December 2008 Sales Units: Decreased 42%

 

The average sold price for all homes for December was $249,211, Up 23% compared to 2008.

 

Absorption Rate* comparing July thru December 2009

 

	JUL	AUG	SEP	OCT	NOV	DEC
Under 249,999	102 days	96 days	108 days	102 days	106 days	124 days
250,000 - 299,999	123 days	148 days	132 days	100 days	110 days	134 days
300,000 - 399,999	140 days	121 days	139 days	128 days	129 days	116 days
400,000 - 499,999	162 days	146 days	153 days	164 days	179 days	152 days
Over 500,000	241 days	311 days	325 days	398 days	336 days	392 days

 

*Absorption Rate is the number of days, at current rates of sale, that would be required to dispose of current inventory, provided no additional listings are added to the market. This calculation accurately tracks market conditions and has been used by the home building industry for more than 30 years.

Posted via web from Jim's posterous