Oct 23, 2009
Third Quarter 2009 Virginia home sales report released today
23 Oct 2009
Posted by VAR
You can get a summary and the raw numbers at www.VARealtor.com/HomeSales.
The press is already out with news stories on our report. We’ll update this post as we find more of them:
- Richmond Times Dispatch: sales up, prices down
- Lynchburg News & Advance: drops in sales, prices leveling off
- WHSV TV Staunton: housing sales show improvement
- Lynchburg News & Advance: home sales strengthen over summer
- Richmond Times Dispatch: prices down 11.7%, sales up in Richmond area
- InsideNOVA.com: prices move up in Prince William County
Here are some of the report’s highlights:
- Total existing home sales in Virginia grew to 25,032 units (up 5.3 percent) in 3Q 09 vs. 2Q 09, but were down 2.2 percent vs. 3Q 08. Four of the seven regions reporting showed an increase in sales for 3Q 09 compared to 3Q 08.
- The statewide median sales price advanced for the third consecutive quarter to $251,324 (up 2.2 percent vs. 2Q 09 and down only .1 percent vs. 3Q 08). The statewide median sales price has increased about $28,000 this year.
- Comparing 3Q 09 to the same period last year, prices were up in Northern Virginia, South Central, Tidewater, and the upper Shenandoah Valley. Only three of the seven reporting regions showed slight decreases in the median sales price.
- The number of foreclosures increased across the Commonwealth (up 7.8 percent) to 18,135 for the quarter.