Home sales in D.C. area remain steady in August

Industry Watch

October 24, 1999

Sales of new homes in August in the Washington metropolitan area were virtually unchanged from August 1998, falling by 0.5 percent, according to the Meyers Group, a Washington firm that tracks new construction.

Condominium sales were up 16.3 percent and townhouse sales were up 4.5 percent, while single- family-home sales fell 7.1 percent. Overall year-to-date sales remained up, 15.3 percent from last year.

Average prices increased for all three home types in August: 0.78 percent for single-family homes ($265,932); 7.67 percent for townhouses ($191,726) and 14.1 percent for condominiums ($166,405).

News in Brief

Long & Foster Real Estate Inc. said that it will award 60 $1,000 scholarships for the 2000-2001 school year. The deadline for applying is March 1, 2000. Applications can be obtained at the company's residential sales offices.

Masonry Homes Inc. said it received the Southeastern Regional Builder Awards from Alside Inc., a maker of exterior construction products. Alside recognizes 10 builders nationwide who use its products.

Long & Foster Real Estate Inc. said September home sales at the company were up 13 percent, to more than $1 billion on 5,394 properties, from $899 million on 5,155 properties in 1998.

O'Conor, Piper & Flynn ERA said Lisa Raffetto of its Chestertown office was named Realtor of the Year for 1999 and president-elect of the Bay Area Association of Realtors.

What's new?

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