Realtors see slight rise in home sales this April over last year

By Abe Nelson

Published: May 19, 2008

It might not signal a turnaround in the economy, but one Lake Ridge Realtor reported Monday that home sales were up.

George Lyons, the branch vice president of Coldwell Banker Residential Brokerage, said homes sold better in April 2008 than they did in April 2007.

“We were 21 percent over in April ’08 versus ’07,” Lyons said.

He thinks the statistics show that housing prices my have leveled off.

“We’ve seen a real uptick in home shoppers and homes going under contract,” Lyons said.  “Housing prices in this area have adjusted to a point where they are very fair and the buyers are responding. As a result, people who couldn’t afford a home a few years ago are coming back into the market.”

Lyons said that 37 percent of the homes sold in April were on the market for 30 days or less indicating that buyers and sellers are coming closer together.

“If the house is priced right, it’s not a slow market,” Lyons said “The sellers that are coming on the market are looking at the market as a whole and pricing accordingly. As a result, they’re getting their houses sold.”

Lyons said he was sensing “a lot more optimism in the marketplace.”

“I think you see a lot more agents smiling than you did this time last year,” said Lyons who predicted an improving market.

“It appears that May is going to be as successful as April was,” Lyons said.

Tom Shipe, managing broker of Manassas sales for Long and Foster, verified that the market has “seen more sales” recently and agreed that things could be turning around.

“I think that it would be a very safe bet to say that things in the future are going to be better than they have in the past,” Shipe said.

Jill Landsman, media relations manager for the Northern Virginia Association of Realtors, said that while the average decrease in listing prices might not be the best news for sellers, buyers are benefitting, and any movement in the market is good.

Last year in April, the average sale price of a house in Prince William County was $405,629. This year the average house sold for $291,852, a decline of 28.05 percent.

Last April in Manassas, houses sold for an average of $325,502 compared to $222,535 this April, a decline of about 32 percent, Landsman said.

In Manassas Park the average sale price was $357,432 and $213,211 this year for a decline of 40.35 percent.

In April of 2007 there were 427 houses sold in Prince William County . This April 639 houses sold, Landsman said.

There were nine houses sold in the City of Manassas Park in April 2007 and 32 houses sold this year.

In the City of Manassas, 41 homes sold in 2007. In April of 2008, 67 houses sold in the city, Landsman said.

“We do have the return of affordability ... and that is going to put the right people in the right kinds of homes at the right prices,” Landsman said.

Houses are staying on the market for an average of 126 days across the three jurisdictions, Landsman said.

Overall, low interest rates and a good inventory of houses help increase sales though the recovery might not be speedy, Landsman said.

“It will happen in baby steps. It will not be in giant, speed of lightning strides,” Landsman said.