The Long & Foster Market Minute
Focus On: Fairfax County Housing Market April 2015
Units Sold
1,310
Active Inventory
4,018
Median Sale Price
$478,750
Days On Market
33
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 5%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 18%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 1,310 sold this month in Fairfax County Real Estate versus 1,112 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 5% versus April 2014.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 747 units or 23%. The total number of active inventory this April was 4,018 compared to 3,271 in April 2014. This month's total of 4,018 is higher than the previous month's total supply of available inventory of 3,303, an increase of 22%.

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Median Sale Price
Last April, the median sale price for Fairfax County Homes was $465,000. This April, the median sale price was $478,750, an increase of 3% or $13,750 compared to last year. The current median sold price is 4% higher than in March.

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
3,045
Current Contracts
1,776
Sold Vs. List Price
98.6%
Months of Supply
3.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 26%
Vs. Year Ago
Up 17%
Vs. Year Ago
No Change
Vs. Year Ago
Up 17%
Vs. Year Ago
Months of Supply
In April, there was 3.1 months of supply available in Fairfax County, compared to 2.6 in April 2014. That is an increase of 17% 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 3,045 homes newly listed for sale in Fairfax County compared to 2,416 in April 2014, an increase of 26%. There were 1,776 current contracts pending sale this April compared to 1,514 a year ago. The number of current contracts is 17% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Fairfax County was 98.6% 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 33, higher than the average last year, which was 28, an increase of 18%.

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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.