Selling a Home in Fairfax County, VA - July 2013 Real Estate Stats

Real Estate Agent with Keller Williams

July 2013 saw some typical end of Summer trends in the real estate market for Fairfax, VA. In total, 1,586 homes were sold in the area, an 18.5% increase year over year, but a 14% decrease from June. The total dollar value of all the homes sold was $871,377,979, which is over a 27% increase from July of 2012, but still a 14% decrease from the previous month. 

The median value of the homes sold in July 2013 was $480,000, an 8% increase from 2012 but a 2% decrease from June. On the other hand, the average value of a home sold in this period was $549,419, quite a bit higher than the median value and a 7.5% increase from the previous year and only a .8% decrease from June. Like the values of the homes, the amount that sellers are receiving for their homes is increasing. In fact, sellers received about 98.6% of their original asking price, a 1.4% increase from July of 2012, and only a small .6% decrease from June.

By the end of JUly, there were 2,387 active listings, marking a 7% decrease from 2012. A good majority of those listings, 1,856, were new. In an opposite trend to the active listings, the new listings actually increased by a huge 27.5%. In terms of suppl there were about 1,800 homes sold in June 2013. Given that there are 2,387 active listings this represents a little over a one-month supply of homes. This signifies a very strong sellers market and is most of the reason for the increase in average sales price. When a home was listed, it remained on the market for about 25 days before being sold, which is a 42% decrease from the 43 days of the previous year. 25 days might not seem long, but Express Homebuyers can buy your home in as little as 7 days! if you're selling your home and want a fast cash offer, then give us a call at 877-804-5252.

Posted by

Brad Chandler

Co-Founder & CEO, Express Homebuyers


Twitter: @ExpresHomebuyer

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