The Virginia realtors have their February numbers out. "Home sales in Virginia dropped for the sixth consecutive month in February, as home-price appreciation posted stronger than normal gains, the Virginia Association of Realtors reported Tuesday. Closed sales fell 9.5 percent in February to 7,109, down from 7,856 for the same month last year. Year-to-date, 13,818 home sales have closed, 12 percent less than last year's year-to-date total of 15,743."

"Fredericksburg and Prince William County saw the largest drops, with sales down more than 25 percent in each market."

According to the association PDF file, Prince William sales volume fell 41%, and the Richmond metro had sales lower by 39%. The Dan River region saw sales drop 50%.

"'The number of homes placed on the market in Virginia continues to show strong market activity in a historic context,' explained VAR President Kit Hale of Roanoke. 'The market definitely peaked last year, growing from just over 7,000 in 1999 to the 10,716 we saw last year. As the demand settles back into a more normal range of activity, we expect to see a much better balance between buyers and sellers.'"

And thanks to the reader who provided this link showing northern Virginia active listings up 315%. 'Although the volume of single family homes and condos sold in February 2006 in Northern Virginia was 20 percent below the units sold totals for February 2005, average sales prices have increased 6 percent, to $514,116. More than four times as many active listings were on the Northern Virginia market in February 2006 than February 2005, up 316 percent from 1,584 to 6,588.'"

"Active listings in the Greater Northern Virginia area were significantly higher in February this year than in 2005. February's total of 14,662 active listings were more than 250 percent greater than the number last year, which was 4,173."

Going back through these reports, the average sales price has been falling.

$550,069..October 2005

$543,170..September 2005

$545,311..November 2005

$552,621..December 2005

$524,314..January 2006

$514,116..February 2006