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Sun Gazette AMRG06.indd 1
3/27/09 2:56:14 PM
VOLUME 82 NO. 5 JANUARY 5-11, 2017
ARLINGTON’S SOURCE FOR HOMETOWN NEWS SINCE 1935
N.Va. Real Estate Closes Out a Healthy 2016 Regional Sales Likely to Be the Highest Since Onset of Recession Nearly Decade Ago SCOTT McCAFFREY Staff Writer
Final figures won’t be released until Jan. 10, but the Northern Virginia real estate market appears likely to report its best sales year since before the recession hit. Average sales prices, however, could
post their first decline – albeit a small one – for the first time in six years. With 11 of 12 months reported and just the December figures to go, a total of 20,070 properties have gone to closing across the local area, according to figures reported by the Northern Virginia Association of Realtors (NVAR). That’s up 5.3 percent from the 19,063
transactions during the first 11 months of 2015, and is just 239 sales below the overall total for the last calendar year. Surpassing 2015’s total is all but a given; December may not be the strongest month for real estate across Northern Virginia, but last year there were 1,623 sales, nearly seven times the amount December 2016 would require to top 2015’s total.
If so, it would be the largest number of sales since 2006, when 29,235 properties changed hands and the market was coming off a decade-long growth spurt. Then the recession hit, and year-over-year sales figures dropped in seven of the next eight years before turning around in 2012. Continued on Page 14
ONE LAST THANKS TO THE MAN IN RED!
He’s probably vacationing with Mrs. Claus in Barbados at the moment, but it’s time to give one last “thanks” to ol’ Saint Nick for his efforts across Northern Virginia and around the globe on Dec. 25. This photo comes from Linden Resources’ annual “Miracle on 23rd Street” celebration, in which Santa arrived by fire truck. See you next December, Kris Kringle!
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