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 | Real Estate Blog |
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Friday, 16 October 2009
NVAR September Stats:
Up, Up & Away:
September Housing Data Shows Four Months Supply of Inventory; Pending Home Sales Up 13 percent; Number of Home Sales Up 2 Percent; Average Home Prices Up 5 Percent
September 2009 Regional Home Sales
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Northern Virginia: September 2009
The Northern Virginia Association of Realtors® reports on September 2009 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 1,684 homes sold in September 2009, a 2.06 percent increase above September 2008 home sales of 1,650.
Active listings decreased by 24.40 percent from last year, with 6,889 active listings in September, compared with 9,112 homes available in September 2008. The average days on market (DOM) for homes in September 2009 decreased by 32.26 percent to 63 days, compared with 93 days in September 2008.
Sales prices peaked compared to those realized last year. The average sales price in September increased by 4.94 percent from September 2008, to $427,881, compared with last September's average of $407,748.
The median price of homes sold in Northern Virginia rose in September to $375,000, which is an increase of 7.68 percent compared with September 2008's median price of $348,250.
The number of pending home sales in Northern Virginia in September shows an increase of 13.22 percent at 2,012 compared to 1,777 in September 2008.
Greater Northern Virginia: September 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for September 2009 shows a decrease from September 2008.
The number of Greater Northern Virginia region homes sold in September was 2,961, an 11.88 percent decrease from September 2008's total of 3,360 sales. Pending home sales showed a slight increase of less than one percent from September 2008's 3,741 to 3,770 in September 2009.
The average sales price of $366,798 in September 2009 increased by 10.21 percent over September 2008's average sales price of $332,803.
Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 13,666 listings active, which is 28.45 percent less than this time last year, when 19,100 homes were available. The average DOM for a home sold in September 2009 was 62 compared with last year's 101 DOM, a decrease of 38.82 percent.
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Employment Prospects Favorable With Government Agencies: Federal Government Must Hire Tens of Thousands of New Workers to Fill Mission-Critical Jobs
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Great news for job seekers this fall: the federal government is hiring tens of thousands of new employees. Based on a survey of 35 federal agencies representing nearly 99 percent of the 1.9 million federal workforce, Where the Jobs Are 2009: Mission-Critical Opportunities for America, outlines government-wide projected hiring needs for the next three years.
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Exact number of jobs created difficult to ascertain but
CNN Money reports:
Stimulus: Creating jobs or not? White House and states say thousands of people have jobs because of stimulus, but Republicans say more needs to be done.
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By Tami Luhby, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) - "Is the largest one-time economic recovery effort in U.S. history creating jobs?
According to new reports from governors across the country, it is."
The CNN Money article continues;
..."The White House . . . maintains that the stimulus package has stopped the hemorrhaging of jobs and has turned around the economy's direction.
Last month, the president's top economic advisers said the recovery act helped turn around the economy. They pointed to the fact that the number of jobs lost in the third quarter averaged 256,000 per month, two-thirds less than the country sustained at the beginning of the year.
'Thanks largely to the Recovery Act ... we have walked a substantial distance back from the economic abyss and are on the path toward economic recovery,' Larry Summers, director of the National Economic Council, wrote Monday in response to the Republican leaders' letter. 'Most importantly, we have seen a substantial change in the trend of job loss.'"
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Northern Virginia: Many Love It!
Book-signing event sparks debate about our region's benefits
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By David Hoffman, Fairfax Times
At a recent book signing event, the author of the book, "The Fight for Fairfax County: A Struggle for a Great American County" discussed his observations about prospering regions.
Regarding Fairfax County, the author's summary is explained by the Fairfax Times reporter: "The good guys [local developers] won a decades-long battle over road-building, sewer and water infrastructure and wallboard construction, leading to the construction of "edge cities" like Tysons Corner and a flurry of residential subdivisions that dot the landscape from Great Falls to Springfield. In the author's eyes, the heroic efforts of these far-sighted entrepreneurs have led to Fairfax County becoming a top location in the country for good schools, good jobs and good communities."
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