Fairfax County Real Estate Activity April 2007
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May 13, 2007
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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 rose nearly 1,000 units again in April to 7,101. Net new listings for the month (new listings - new contracts) was 1,736 rose by almost 1,100 properties. About 17% of new listings are properties coming back on the market after expiring or being withdrawn.
HOME PRICE APPRECIATION:
Average home prices remain at the $530,000 level, flat since January. It still remains to be seen where prices are headed this spring.
DAYS ON MARKET DOMP:
Average time it takes to sell declined 20 days to 84 days. The Daily Market watch shows this measure is flat (81 days as of May 10th). Selling activity is up but, so are new listings.
SOLD TO LIST PRICE RATIO:
This ratio rose slightly to 96%. This may be due to sellers pricing their properties more realistically now.
NEW CONSTRUCTION (chart not yet available):
Data not available.
Average home prices remain at the $530,000 level, flat since January. It still remains to be seen where prices are headed this spring.
DAYS ON MARKET DOMP:
Average time it takes to sell declined 20 days to 84 days. The Daily Market watch shows this measure is flat (81 days as of May 10th). Selling activity is up but, so are new listings.
SOLD TO LIST PRICE RATIO:
This ratio rose slightly to 96%. This may be due to sellers pricing their properties more realistically now.
NEW CONSTRUCTION (chart not yet available):
Data not available.
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» Fairfax County Real Estate Activity March 2007 from Northern Virginia Real Estate Guide
Inventory of homes for sale rose significantly in March (by 1,320 homes) to 6,183. Average price is up 4% for the month offsetting declines in the first quarter. Time on the market decreased to 104 days. [Read More]
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