The Long & Foster Market Minute
Focus On: Fairfax County Housing Market December 2014
Units Sold
1,123
Active Inventory
2,610
Median Sale Price
$465,000
Days On Market
49
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 9%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 29%
Vs. Year Ago
Units Sold
There was an increase in total units sold in December, with 1,123 sold this month in Fairfax County Real Estate versus 835 last month, an increase of 34%. This month's total units sold was higher than at this time last year, an increase of 9% versus December 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 347 units or 15%. The total number of active inventory this December was 2,610 compared to 2,263 in December 2013. This month's total of 2,610 is lower than the previous month's total supply of available inventory of 3,424, a decrease of 24%.

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Median Sale Price
Last December, the median sale price for Fairfax County Homes was $440,000. This December, the median sale price was $465,000, an increase of 6% or $25,000 compared to last year. The current median sold price is 2% higher than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
712
Current Contracts
798
Sold Vs. List Price
97.7%
Months of Supply
2.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 13%
Vs. Year Ago
Up 21%
Vs. Year Ago
No Change
Vs. Year Ago
Up 6%
Vs. Year Ago
Months of Supply
In December, there was 2.3 months of supply available in Fairfax County, compared to 2.2 in December 2013. That is an increase of 6% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 712 homes newly listed for sale in Fairfax County compared to 631 in December 2013, an increase of 13%. There were 798 current contracts pending sale this December compared to 659 a year ago. The number of current contracts is 21% higher than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Fairfax County was 97.7% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 49, higher than the average last year, which was 38, an increase of 29%.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.