Greater Washington's Housing Market

From the Washington Business Journal

The news wasn't all bad for Greater Washington's housing market in July, as prices and sales volume eked up in some jurisdictions.

In D.C., 740 single-family homes were sold in July, up 10.6 percent from July 2006, according to data compiled by Metropolitan Regional Information Systems. The median sales price for homes in the District was $431,000, up nearly 4 percent from $415,000 a year ago.

Some municipalities still didn't fare too well during the typically-slow summer month for real estate activity. In Prince George's County, sales volume fell 42 percent in July and median prices were virtually unchanged at $320,000. Sales volume also fell nearly 16 percent in Montgomery County in July, but the median sales price was $490,000, up nearly 8 percent from a year ago and the highest median price in Greater Washington for the month.

In a region that includes Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church, sales and median price were flat. There were 1,859 single-family homes sold in that region in July, an annual increase of just 0.1 percent, and the median price was $480,000, up 0.7 percent from the previous year.

In Loudoun County, 478 units were sold, an increase of about 12.5 percent, and the median price was $440,000, down about 6.4 percent from July 2006. Sales volume fell more than 26 percent in Prince William County in July, and the median sales price was $365,000, a decline of 6.4 percent.