Fairfax Real Estate Snapshot

Fairfax Real Estate Snapshot | June 2006

« Loudoun Real Estate Snapshot | June 2006 | This Article | The Guide is on a 7 day break »

July 2, 2006

This is our first Fairfax County Market Snapshot. Unsold inventory appears to be leveling, new listings are still outpacing new contracts by a slight 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
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

Fairfax County \| Single Family Residential
June 2006 Unofficial	Trend ↑↓		Sell	Buy
■ Avg Sales Price	$646,003	↑	■	■
■ YTD Avg Price	6.00%	↑	■	■
■ New Listings	2,368	↓↓	■	■
■ Active Listings	6,467	↓	■	■
■ New Contracts	881	↓↓	■	■
■ Number Sold	1,170	↑	■	■
■ Weeks Backlog	13.6	↑	■	■
■ Days on Market	49	↓	■	■
■ % of List Price	96.0%	↓	■	■
■ Builders Sold	--		■	■
■ Buyer Intensity	-0.68	↓	■	■
Competition:	+Favorable to buyers
Market Momentum:	Buyers
Price Momentum:	Sellers
Trend: change from previous month Index: Sold is 68% 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 Snapshot | June 2006. Follow this article is off. More articles like this one filed in: Market Trends at a glance

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Comments

Merv

made the following comment on August 16, 2006 5:50 PM

Katie, don't despair...enjoy your home and don't watch the market. Ups and downs always occur. Uncle Sam is helping with your house payments via tax deductions. The market will change again...it always does. Even if you break even when you sell, you are still ahead.

Katie made the following comment on August 16, 2006 1:28 PM

Sigh!!! I guess buying a condo in the spring of 2005 wasn't exactly the smartest move.

Wednesday, March 10, 2010 7:08 am
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Fairfax Real Estate Snapshot | June 2006

July 2, 2006

Buyer Intensity

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