Fairfax County Real Estate Activity January 2007
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| Loudoun County Real Estate Activity January 2007 »
February 15, 2007
| Fairfax Buyer Intensity |
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Red Bars: HOT (Sellers Market) Blue Bars: COLD (Buyers Market) Gray Bars: Balanced Market |
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INVENTORY:
Inventory of homes for sale declined slightly to 5,251 in January (168 homes or 3%). New listings rose 90% to 2,106 from 1,105 in December. Net new listings for the month (new listings - new contracts) rose by about 800 properties offset by the same amount being withdrawn or expiring. About 23% of new listings are properties coming back on the market after expiring or being withdrawn.
HOME PRICE APPRECIATION:
Home prices have only declined by about 1% from January of 2005, much better than surrounding jurisdictions. It appears prices may have bottomed. It remains to be seen where the market is headed this spring.
DAYS ON MARKET DOMP:
Average time it takes to sell rose another 9 days to 106 days. The Daily Market watch shows this measure continues to rise, 111 days as of February 15th. DOMP may rise a bit more through the winter season.
SOLD TO LIST PRICE RATIO:
This ratio remained at 93.5%. Buyers are still in a demanding position in this market.
NEW CONSTRUCTION (chart not yet available):
As of January 31st, the MLS is reporting 538 homes on the market with only 45 sold for the month, a 8% SOLD to ACTIVE absorption rate. Builders are still offering big incentives to move their homes. Reminder: new construction data in the MLS is very unreliable. More may have sold but we won't know the real number for several months.
Home prices have only declined by about 1% from January of 2005, much better than surrounding jurisdictions. It appears prices may have bottomed. It remains to be seen where the market is headed this spring.
DAYS ON MARKET DOMP:
Average time it takes to sell rose another 9 days to 106 days. The Daily Market watch shows this measure continues to rise, 111 days as of February 15th. DOMP may rise a bit more through the winter season.
SOLD TO LIST PRICE RATIO:
This ratio remained at 93.5%. Buyers are still in a demanding position in this market.
NEW CONSTRUCTION (chart not yet available):
As of January 31st, the MLS is reporting 538 homes on the market with only 45 sold for the month, a 8% SOLD to ACTIVE absorption rate. Builders are still offering big incentives to move their homes. Reminder: new construction data in the MLS is very unreliable. More may have sold but we won't know the real number for several months.
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Tracked on February 18, 2007 8:13 PM
» Fairfax County Real Estate Activity January 2007 from Northern Virginia Real Estate Guide
Inventory of homes for sale declined slightly in January (by 168 homes) to 5,251. Average price is down 1% from the same period last year. Time on the market increased to 106 days. [Read More]
Tracked on March 11, 2007 9:42 AM
» Fairfax County Real Estate Activity February 2007 from Northern Virginia Real Estate Guide
Inventory of homes for sale declined slightly in February (by only 97 homes) to 5,154. Average price is down 4% for the month. Time on the market increased to 113 days. [Read More]
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