NOVA Single Family Homes Price Trends

October 10, 2007

September is showing a continued downturn in price trends for single family, detached homes under $1,000,000 in the three largest counties in Northern Virginia. Interesting to note is Prince William sales are significantly lower than assessed value while Loudoun and Fairfax are selling at about assessed value (this is indicative of the significant softness in Prince William). What we don't know is the contribution of short sales and bank owned properties to this data. My anecdotal experience working with a current buyer is about half the homes that match our criteria (less than $425,000) are tagged as short sale or third party approval.

Instead of embedding all three charts, here are snapshots of the charts and links to the real ones:

From left to right:
FAIRFAX COUNTY | PRINCE WILLIAM COUNTY | LOUDOUN COUNTY



(Note: Embedding the Fusion Charts considerably slows the page load. Click on the chart images above for a large view.)

Comment on NOVA Single Family Homes Price Trends. Follow this article is off. More articles like this one filed in: Market Conditions (with charts)