Fairfax, VA Real Estate Statistics. Fairfax VA Home Sales and Prices.
Fairfax, VA Home Sales - Fairfax, VA Real Estate Statistics and Trends. Find recent Fairfax County VA recent homes sales data, real estate sales trends in charts and graphs, and Fairfax real estate blogs from the most recent MLS sold data.
FAIRFAX VA REAL ESTATE TRENDS
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Want the trends in Fairfax County VA real estate? There is no real magic in understanding Fairfax VA real estate, it is easy as long as you look at the trends that are taking place, and do so as an informed consumer working with a seasoned real estate professional. On the 10th of each month our MLS system MRIS publishes public data report and statistics on Fairfax VA homes that were sold in the preceding month. It allows us to look at a number of things, average sales prices for homes in Fairfax VA that were sold, how long it took to sell those homes, how much are the sellers give up in negotiations. Then you can also compare that data to the same timeframe in preceding years and identify the trends. I've taken care of that for you, and each month I will try to update this Fairfax VA real estate data in a timely fashion for you.
Fairfax County VA Real Estate Statistics for October 2011
As we go into the winter months in Fairfax County real estate we are doing so with a lot less available homes in listed inventory than previous years. We currently have 3,283 homes in Active inventory vs. last year?s 3575 homes ? a substantial 8.17% drop in homes for sale. Fairfax County is also seeing fewer new listings coming on the market and we are experiencing a -6.64% drop in new listings.
Updated 01/18/2012
FAIRFAX COUNTY MOST RECENT STATISTIC TRENDS
Fairfax VA Real Estate Market Statistics Report - December 1, 2011 for Fairfax Virginia Real Estate. MRIS our MLS was just released the most recent data for Fairfax VA Homes sales on November 4, 2011 and it includes statistics for Fairfax Homes Sales for October 2011. For an accurate assessment of the market I created a trends graph from that data and compared it to same time frames in October 2005 -2011. These Fairfax VA homes sales reports are always very insightful to determine sales and marketing trends. This chart deals with only homes sold in October in Fairfax County.
This is a better way to explain what is happening in our Fairfax VA real estate market. Instead of looking month to month, more often than not we need to take a step back and view the trends for the same time period. In October 2008 there were 970 home sold in Fairfax County Virginia so with 853 sales this October* we are off an average of 14 % from last year. Again this is a sharp contrast to the peak in home sales in October of 2005 in Fairfax when the sold homes in Fairfax were 1119 homes... a 23.7%% decline in homes or units sold. The good news is that Fairfax real estate sales prices have held steady and risen since then, and active listing inventory is down. Believe it or not it is really good news for a recovery.
Fairfax VA Home Sales October 2011
It is always interesting to note the real estate trends in Fairfax County VA home sales.
Where are Homes Selling in Fairfax County by City?
*MRIS Real Estate Trend Indicator - Higher Price Segment Format 11/4/2011
When buying a home Fairfax VA the most interesting to note the current Fairfax real estate trends. Since real estate is local... it is important to identify the type of homes in Fairfax VA that are selling. It is a smart thing to do especially if you want to protect your real estate investment. The homes that are selling in Fairfax VA County far faster than anything else are 4+ bedroom homes detached single family fee simple homes, and 279 4 bedroom homes were sold with an average sales price of $676,272 this October 2011. No surprise here! The 4 bedroom homes are the most sought after, and then followed by condos units this month. Over the years in real estate a Fairfax VA real estate professional has to notice that 4+ bedroom homes are more sought after than a 3 bedroom home, and even condo units. This year however, condos took 31% of the homes sold in market share. In October 2011 there were 371 Single Family homes sold in Fairfax VA. Single family homes are also more sought after than condos etc. I created this Fairfax VA graph just to allow you to see what type of Fairfax VA homes buyers looking for and buying! This graph is created from December 2009 Fairfax VA real estate statistics of RealEstate Business Intelligence, and the statistics were generated on 11/04/2011. Since it is a visual, it is pretty much self explanatory. 51% of all Fairfax home sales in October 2011 were 4+ Bedroom homes.
Fairfax VA Home Sales Report - October 2011 Home Sales Average Prices
The latest Fairfax County VA homes sales statistics for MRIS* (our MLS service) were compiled November 4, 2011. There are some very interesting trends. Fairfax County VA average homes sales prices are down modestly .03 % over same time period in October but sales in the same October timeframe last year we are down with only 853 homes sold October 2011. That is puzzling since mortgage rates are at a 60 year low! Please keep in mind that the final net sales figure does not reflect that seller's contributions or concessions to make the deal work.
The list price sales price ratio of a Fairfax VA homes for sale is 94.31 %the time needed to sell a home has decreased to an average of 66 days to sell a home. That is still a good number However we must not kid ourselves. there are fewer sales, and it is still a buyers market, but the market has held up rather well considering. Fairfax homes that are realistically priced sell are selling.
Average Home Sales Price
Financing the Home Sale
What are Fairfax Home buyers financing their
home sales in Fairfax County this October
2011?
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