September Market Report for Fairfax County VA

By
Real Estate Agent with Samson Properties 0225203569

 

Find Your Fairfax County VA Home Here 

LESS THAN 6 MONTHS SUPPLY MEANS IT IS A SELLER'S MARKET

 

 

In Fairfax County, VA, the median sold price for Detached properties for September was $616,000, representing a decrease of 3.3% compared to last month and a decrease of 0.6% from Sep 2015.

The average days on market for units sold in September was 62 days, 12% above the 5-year September average of 55 days. There was a 15.1% month over month decrease in new contract activity with 557 New Pendings; a 10.1% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 835; and a 5.8% increase in supply to 2,237 active units.

This activity resulted in a Contract Ratio of 0.37 pendings per active listing, down from 0.44 in August and an increase from 0.31 in September 2015.

The Contract Ratio is 6% lower than the 5-year September average of 0.39. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Tags:
real estate

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
22,107

Patricia Joy Schenk, M.Ed.

Right Home, Right Price, Right Realtor
How can I help you?
*
*
*
*