Monthly Home Sales Reach Seven Month High
Total existing-home sales - including single family, townhomes, condominiums, and co-ops - increased 3 percent to a seasonally adjusted annual rate of 6.46 million units in January from an upwardly revised pace of 6.27 million in December. Sales were 4.3 percent below the 6.75 million-unit level in January 2006.
For us is the Northeast existing-home sales in the Northeast were at a level of 1.07 million in January, unchanged from December, and were 5.9 percent higher than January 2006. The median existing-home price in the Northeast was $260,700, down 1.2 percent from a year earlier
Locally in the Northern Virginia Area home sales were up approximately 10% from January 2006.
What does all this mean? One could speculate that buyers have reached a critical mass. Pent-up demand coupled with new demand from those moving into the area may now be realized in the market. Buyers continue to see tremendous buying opportunities with continued home price decreases and low interest rates.
Neighborhoods in Loudoun County like Ashburn, Brambleton, Broadlands, Chantilly are finally realizing more normal inventory turnover and Days on Market (DOM) near normal levels.
For more market information or a FREE MARKET ANALYSIS of your home or neighborhood go to http://www.justpay4.com. Take advantage of the experience and knowledge of Samson Realty and Joel Combs. So when you decide that you'd like to buy or sell a home in the Northern Virginia area, please me, Joel Combs
Related Tags: virginia, national association of realtors, home sales, ashburn virginia, nar, home sales va
Joel Combs sells Ashburn Virginia Homes with Ashburn Virginia Real Estate agency, Samson Realty. He is a certified Realtor with the National Associate of Realtors. For Ashburn Virginia Listings visit http://www.justpay4.com.
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