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Fairfax County, Virginia Real Estate Market Report -March 2010

By
Real Estate Agent with Samson Properties VA0225077251
Yes, the spring market is in full swing!!! Northern Virginia area has seen a significant increase in level of activities. Most of my listings have either got multiple offers or under contract prior to the weekend ends. Apart from increasing in the activity volume we have seen an increase in pricing both Average & Median Sold prices have gone 10+ compared to last year. Below are the charts created based on the data from our local MLS system.

Fairfax County data include cities Mclean, Falls Church, Fairfax, Chantilly, Centreville, Reston, Herndon, Springfield, Burke, Lorton and Great falls area. To complement the real estate market the county was rated second richest county in the country right behind the neighboring county Loudoun. We have a strong employment, per capital incomes and a low interest rate has attracted lot of our first time home buyers, moving up or down sizing sellers to take an opportunity in the market.





If you are a seller in this market you may want to reconsider your strategy if you are not been able to sell it in this market. Most of the listings are under contract within 30 days. For buyer do remember winning a contract is not the only thing being able to afford the home for the time you will live in the home is the most important factor.




Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 

Comments (1)

Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Ritu you are doing a very nice job keeping everyone up to speed on the local RE stats for Fairfax County!

Apr 16, 2010 12:03 AM