The number of homes sold in Northern Virginia spiked 39 percent in January, as more buyers took advantage of falling prices.
During the month, 998 homes were sold in the area, which includes the cities of Alexandria, Fairfax and Falls Church as well as the counties of Fairfax and Arlington, according to Rockville-based market research firm Metropolitan Regional Information Systems Inc. In the same month in 2008, the number of homes sold was 716.
Units on the Northern Virginia market are being snapped up faster than last year. Homes are spending an average of 99 days on the market, compared with 123 days during the same period a year ago.
In Fairfax County alone, 790 homes were sold in January. That’s up nearly 47 percent compared with a year ago. The median sale price dipped nearly 22 percent to $309,449 last month. In Arlington County, 119 homes were sold in January — up more than 26 percent from the same month a year ago.
source: Washington Business Journal
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