Unlike Loudoun county real estate market report where we had a double digit growth, Fairfax saw a steady pace in April 2017. There are some strong pockets in the Fairfax county were we had multiple contracts or a bidding war. The overall housing market in the Fairfax area was stable with a steady growth.
Real estate market is already above the median home price in the Northern Virginia area and DC metro area. We did see an increase in the sales volume, tight inventory plus a small increment in the sales price compared to April 2016. Tigh inventory continues to be a challenge in the entire DC metro area.
The biggest thing I would take away from the April 2017 real estate market report in the Fairfax is Averages sales price to original list price of the home is 98.7%. Loudoun was at 99.1%. Which means sellers are getting close to their list price if priced correctly. While days on the market is barely a little over a month.
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