Fairfax Real Estate Market

Fairfax Real Estate Market | May 2006

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June 9, 2006

Official May market update for Fairfax County, VA: Unsold inventory continues to rise and is nearly 6,500 homes. New listings are outpacing new contracts by a 2:1 margin. Fairfax County is not as deep into a buyers market as Loudoun, but that may not be much consolation. All indicators continue to point to a continued market decline. Difficult if you are selling. You should be elated as a buyer.

Buyer Intensity

Red Bars: Sellers Market | Green Bars: Buyers Market
Gray Bars: Balanced Market

[click for more detail]

The Fairfax Buyer Intensity Index (Fairfax BII) is simply an indicator of buyer intensity at any point in time (monthly). Positive index values means more property is being sold than there are active listings. Negative index values means fewer properties are being sold when compared to total active listings. Values close to zero indicates a relatively balanced market; number sold is close to number active. An out of balance condition exists when the difference between sold and active is greater than 25% of the number of actives or when the difference is less than 20% of the number of total actives.

Data Points

Fairfax County \| Single Family Residential
April 2006	Trend ↑↓		Sell	Buy
■ Avg Sales Price	$597,167		■	■
■ YTD Avg Price	--.--%		■	■
■ New Listings	3,123	→	■	■
■ Active Listings	5,633	↓	■	■
■ New Contracts	1,291	↓	■	■
■ Number Sold	1,024	↑	■	■
■ Weeks Backlog	10.5	→	■	■
■ Days on Market	--		■	■
■ % of List Price	--		■	■
■ Builders Sold	--		■	■
■ Buyer Intensity	-0.59	→	■	■
Competition:	Favorable to buyers
Market Momentum:	Buyers
Price Momentum:	Buyers
Trend: change from previous month Index: Sold is 59% lower than total active

Fairfax County \| Single Family Residential
May 2006	Trend ↑↓		Sell	Buy
■ Avg Sales Price	$602,164		■	■
■ YTD Avg Price	--.--%		■	■
■ New Listings	3,231	↑	■	■
■ Active Listings	6,449	↑↑	■	■
■ New Contracts	1,276	↓	■	■
■ Number Sold	1,130	↑	■	■
■ Weeks Backlog	11.5	↑	■	■
■ Days on Market	51		■	■
■ % of List Price	97.3%		■	■
■ Builders Sold	--		■	■
■ Buyer Intensity	-0.63	↓	■	■
Competition:	Favorable to buyers
Market Momentum:	Buyers
Price Momentum:	Buyers
Trend: change from previous month Index: Sold is 59% lower than total active

About Market Trends: Data for the tables and charts is derived from the local MLS (MRIS), the Dulles Area Association of REALTORS® and the Northern Virginia Association of REALTORS®. Official public data is normally availble by the 10th of the month following the month in question.

Comment on Fairfax Real Estate Market | May 2006. Follow this article is off. More articles like this one filed in: Market Trends at a glance

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Fairfax Real Estate Market | May 2006

June 9, 2006

Buyer Intensity

Data Points

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