Report: New condo sales up in D.C. area - Washington Business Journal:

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(For related story from the WashingtonBusineses Journal's print edition.) New condo sale prices were down in the area by 3.9 percenr from 12 months ago, with suburban Maryland postinhg the biggest declines of 7.6 percent. New unit salee volume — defined as net binding contracta written with security deposits up inthe D.C. area during the second quarter of 2009 was 618 up from 310 units sold in thefirsr quarter. For the 12 months ending June 2009, ther were 1,667 sales, with the most sales occurringin Arlington, the City of Alexandria and D.C. Suburbanm Maryland saw a large dipin sales, with 558 unitds sold, compared to 1,002 for the same year endingf June 2008.
Northern Virginia was faring There were 667 unit sales recorder for the year endingin June, comparede to 647 for the priorf year-ago period in 2008. In the metroo area, concessions are down in but up inthe Metrowide, concessions are up slightly, averagingb 3.7 percent of the purchase price at mid-year compared to 3.5 percent a year They average 4.5 percent in compared to 4.7 percent at the end of the same period in 2008. Northerbn Virginia had 3.4 percent concessions and suburbajn Marylandhad 4.1 percent concessions, where were up from 3.3 and 2.5 respectively. For the year ending in May, the median resalse price in the metro area declinedby 12.
7 with the biggest dropsz in the outer Northern Virginia suburbs. The mediabn condo resale pricein D.C. was $360,000 in May, or barelty over May 2008’s price of $359,900. Loudoun County’s prices plungedc the farthest in the metroarea -- by 27.1 percentr -- to $140,000 during that Prince William County prices also took a big down 22.9 percent in May to $139,950. Arlingtonm was the only jurisdiction to post price which wereup 6.1 percentf to $350,000.