Fairfax County -February 2011 Real Estate Market Report

What a change from a last year this time to this spring market. Last year buyer and sellers were running around crazy to take advantage of $7000 tax credit. In spite of no tax incentives this year we still have seen an increase in both the sale median/ average price (+3.4%) in February 2011 compared to February 2010. We started this year spring market pretty early on. Lower unemployment rate, inventory, consumer confidence in economy and larger percentage of relocation to the Northern Virginia market has made our market a leading indicator of recovery of real estate market.

Below are the key numbers for the Fairfax County February Real Estate Market.