Homes Sales Decline Across State

November 5, 2007

Home sales in Virginia fell 24.4% in September from the same month a year ago.

According to numbers from the Virginia Association of Realtors, that was the biggest percentage drop all year. But the median price for a home in Virginia, with half selling for more and half for less rose 5.5% to $229,000.

All but one of 24 areas in Virginia showed a decline in sales. Southwest Virginia was the only area showing a gain in the number of sales, up 2.5%, although not many houses are sold there.

Northern Virginia, the highest priced area, saw sales slide 30.7% in September from the same month a year ago. In the Hampton Roads area, sales fell 21.6% in September from a year ago.

Melanie Thompson of Fredericksburg, the president of the Virginia Realtors group, said it's misleading to compare this year's more normal market with the historic highs of the past three years.


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