Homes Staying on the Market Longer
Washington Post Staff Writer
Thursday, January 19, 2006; Page LZ06
Home prices jumped over the past year in Loudoun County, but making a sale is taking longer.
Single-family homes and condominiums sold for a record median price of $509,950 last month, up 17.8 percent from the same period a year ago.
  Jennifer McCloud of Middleburg's Chrysalis Vineyards has been named to the Virginia Wine Board. "I'm just thrilled to have a part in helping Virginia regain the recognition it deserves," she said. (By Robert A. Reeder -- The Washington Post) |
But it took 37 days, on average, for a seller to snag a contract last month, up from 26 days in December 2004, according to Multiple Listing Service data posted on the Dulles Area Association of Realtors ' Web site.
Almost three times as many homes were on the market last month -- 2,553 vs. 909 in December 2004. And fewer homes were being sold in Loudoun: 710 last month compared with 835 a year earlier.
The same trend was apparent in Fauquier County, where the median price (with half of the homes selling for less and half for more) rose 14.6 percent over the same period. The homes also took longer to sell: 48 days last month compared with 42 days in December 2004.
The Name Game
Orbimage Holdings Inc. , a commercial satellite-imagery firm based in Dulles, became a lot bigger last week when it finalized its acquisition of a Colorado-based competitor, Space Imaging Inc .
Orbimage celebrated the $58.5 million transaction by changing its name to GeoEye.
Why the name change?
"We're in the business of providing GeoInformation and GeoIntelligence," the company said on its Web site. "GeoEye is short for that. Visually speaking, our satellites see the world, so GeoEye conveys what we do."
GeoEye operates three satellites that provide images to government and commercial customers -- many in the national security community.
Matthew O'Connell is the company's president and chief executive.
New Wine Board Member
Jennifer McCloud, the owner of Chrysalis Vineyards in Middleburg, is the newest member of the Virginia Wine Board, former governor Mark R. Warner announced last week.
