Northern Virginia Monday's Market by the Numbers
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| MONDAY'S MARKET OF RESALE HOMES [ December 31, 2007 ] | ||||||||||||
| Charts → | Fairfax | Loudoun | Prince William | |||||||||
| Total | Homes | List $ | domp | Homes | List $ | domp | Homes | List $ | domp | |||
| Listings | 5370 | $528K | 129 | 2281 | $515K | 143 | 4228 | $363K | 140 | |||
| Contracts | 736 | $512K | 120 | 296 | $442K | 138 | 464 | $320K | 134 | |||
| NEW ON the Market in the last 30 days | ||||||||||||
| New List | 698 | $445K | 17 | 291 | $415K | 17 | 600 | $339K | 17 | |||
| Re-List | 307 | $453K | 151 | 165 | $476K | 167 | 310 | $335K | 178 | |||
| Total On | 1005 | $447K | 58 | 456 | $437K | 71 | 910 | $338K | 72 | |||
| NEW OFF the Market in the last 30 days | ||||||||||||
| Contracts | 452 | $496K | 123 | 184 | $416K | 142 | 283 | $311K | 137 | |||
| Expired | 1049 | $518K | 155 | 383 | $501K | 173 | 801 | $393K | 189 | |||
| Withdrawn | 780 | $496K | 138 | 338 | $497K | 145 | 501 | $391K | 156 | |||
| Total Off | 2281 | $506K | 143 | 905 | $482K | 156 | 1585 | $378K | 169 | |||
| SOLD in the last 30 days w/Average Prices and Ratios | ||||||||||||
| Total Sold | 714 | $547K | 112 | 231 | $446K | 123 | 247 | $345K | 151 | |||
| Sold | List | Orig | Sold | List | Orig | Sold | List | Orig | ||||
| Price | $522K | $547K | $577K | $430K | $446K | $474K | $332K | $345K | $380K | |||
| Ratios | 95% | 90% | 96% | 91% | 96% | 87% | ||||||
| Absorption | 8% | 8% | 7% | |||||||||
| Intensity | -78% | -82% | -87% | |||||||||
| Price ↑↓ | -8.9% | -6.5% | -9.5% | |||||||||
| Off to On | 1 : 0.4 | 1 : 0.5 | 1 : 0.6 | |||||||||
| Close Ratio | 97% | 78% | 53% | |||||||||
| Re-List % | 31% | 36% | 34% | |||||||||
| Sold DOMP | 112 | 123 | 151 | |||||||||
| Backlog ~ | 7.5 mo | 9.9 mo | 17.1 mo | |||||||||
Worth Noting: Total homes for sale (inventory) turned upward on January 1st. The number coming off the market compared to the number coming on has reversed to an approximate 1.2 on for every 1 coming off in Fairfax and Prince William, less in Loudoun. Absorption rates are beginning to show signs of weakness across the board. Average price appears to be holding if not slightly on the rise. |
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| Definitions: | ||||||||||||
| Absorption: | Percentage of new contracts to total listings. 10% = 10% of inventory is sold per month. | |||||||||||
| Intensity: | Buyer intensity. +xx% = sellers market, -xx% = buyers market, close to 0% = balanced. | |||||||||||
| Price ↑↓ : | Increase or decrease in new contract list price to sold list price. Is a short term "leading" indicator of price direction. | |||||||||||
| Off : On : | Ratio of homes coming being listed (Total On) to homes coming off the market (Total Off) in the last 30 days. A value of 1 : 1.2 means for every 100 homes comming off the market, 120 homes are coming on the market. | |||||||||||
| Close Ratio | Ratio of homes Sold in the last 30 days (closings or settlements) to Total Contracts. A value of 50% means one half of total current contracts are going to settlement.. | |||||||||||
| Re-List % | Ratio of homes re-listed (Re-List) to total new listings (Total On). Re-List is defined as a home coming back on the market after being off the market for less than 180 days. | |||||||||||
| Sold DOMP | Average total days on the market. | |||||||||||
| Backlog: | The number of months it would take to sell the current number of listings at the current sell rate. | |||||||||||
| LIST $'s: | Last list price. | |||||||||||
| domp: | Days active from the original list date. | |||||||||||
| NEW CONSTRUCTION is not included. | ||||||||||||
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