Fairfax County Real Estate Activity May 2007
« No real estate bubble bursting here; just a simple market adjustment |
This Article
| Loudoun County Real Estate Activity May 2007 »
June 12, 2007
| Fairfax Buyer Intensity |
|---|
|
Red Bars: HOT (Sellers Market) Blue Bars: COLD (Buyers Market) Gray Bars: Balanced Market |
|
|
INVENTORY:
Inventory of homes for sale continues to rise, up another 880 homes to 7,980 in May. Net new listings for the month (new listings - new contracts) are up again to 1,908 properties. About 18% of new listings are properties coming back on the market after expiring or being withdrawn.
HOME PRICE APPRECIATION:
Average home price rose 3.4% from April to the $546,000 level. Median price dropped 3%. For 2007, average price appears to be up and down month to month in the +/- 3% range.
DAYS ON MARKET DOMP:
Average time it takes to sell declined 5 days to 79 days. The Daily Market watch shows this measure declining a bit more to 74 days as of June 12th. Selling activity remains constant at about 1,100 homes per month. New listings show a definite decline since mid May and homes being withdrawn from the market are up 60% since the low in March.
SOLD TO LIST PRICE RATIO:
This ratio remains in the 95 to 96% range. I suspect sellers have adjusted asking prices downward based on sluggish demand.
NEW CONSTRUCTION (chart not yet available):
Data not available.
Average home price rose 3.4% from April to the $546,000 level. Median price dropped 3%. For 2007, average price appears to be up and down month to month in the +/- 3% range.
DAYS ON MARKET DOMP:
Average time it takes to sell declined 5 days to 79 days. The Daily Market watch shows this measure declining a bit more to 74 days as of June 12th. Selling activity remains constant at about 1,100 homes per month. New listings show a definite decline since mid May and homes being withdrawn from the market are up 60% since the low in March.
SOLD TO LIST PRICE RATIO:
This ratio remains in the 95 to 96% range. I suspect sellers have adjusted asking prices downward based on sluggish demand.
NEW CONSTRUCTION (chart not yet available):
Data not available.
Comment on Fairfax County Real Estate Activity May 2007. Follow this article is off. More articles like this one filed in: Fairfax County Market News
Subscribe to: 
Valid CSS and
