Northern Virginia home sales up 5% - Washington Business Journal:

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During the month, 1,803 homes were sold in the which includes the cities of Fairfax and Falls Churc h as well as the counties of Fairfadxand Arlington, according to Rockville-based market research firm In the same montuh in 2008, the number of homes sold was 1,724. The mediaj sale price of a home in the area fell 7 percenft in Mayto $375,000, according to D.C. home sales did not do as well last There were 484units sold, down 9 percen from 533 homes sold in the same month last The median sale price dropped 10 percent, from $440,000 in May 2008 to $394,95o0 last month. Units spent an average of 91 or 13 more on the market last monty overMay 2008.
Units on the Norther Virginia market, however, are being snappedc up faster than last Homes are spending an average of 76 days on the or 13 less days than the same perioxd ayear ago. In Fairfax County, 1,3311 homes were sold in May. That is up 4 percen compared with ayear ago. The mediah sale price dipped nearly 10 percentto $360,0000 last month. In Arlington the median sale price was up 11 percengtto $469,000 and 239 homes were sold — up nearly 5 percent from the same monthh a year ago. Prince Williamj County experienced a 4 percengt increase in sales of753 homes, compared with 724 homezs sold in May 2008. The mediab sale price was down nearluy 19 percentto $207,777.
Units spent an averagre of 78 days, or 50 less days on the than inMay 2008. Prince George’s County home salea were up 28 percent, with 494 units sold last The median sale price was down 21 percenytto $224,900, but homes spent, on average, 33 more days on the marketr than they did in May 2008. Montgomery County home salex last month totaled874 units. The median sale price was down 13 percentto $358,117, and homes spent, on two more days on the market than they did in May 2008.