Fairfax VA Real Estate Report for May 2009 Home Sales in Fairfax Virginia Saw Homes Sales increase over the same period last May 4.15% A lot of news stories have been posted this week when MRIS posted the most recent real estate statistics for the month of May on June 10th. These stories are misleading the public and sellers alike that homes sales in Fairfax county have just increased over last year. That is true. However, they neglect to tell you the the facts that even though the number of Fairfax home sales that have increased an anemic 4.15% over May of 2008....they are no where where they were in previous years. In fact if you look at a 5 year perspective, they are down a whopping 42% from May of 2005 when they stood at 2291 homes sold. What's driving the sales? Foreclosures and distressed sales are. That is why the average sales price of $420,482 in Fairfax which is a drop of -10.35 % over last May, and it explains the sill widening gap in list price / sales price ratio at that now stands at 92.23 %. That shows us that shows us that buyers are still firmly in charge of the Fairfax VA home market
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