The Long & Foster Market Minute
Focus On: Fairfax County Housing Market September 2014
Units Sold
1,024
Active Inventory
4,260
Median Sale Price
$450,000
Days On Market
36
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -10%
Vs. Year Ago
Up 30%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 33%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in September, with 1,024 sold this month in Fairfax County Real Estate versus 1,334 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 10% versus September 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 985 units or 30%. The total number of active inventory this September was 4,260 compared to 3,275 in September 2013. This month's total of 4,260 is higher than the previous month's total supply of available inventory of 4,222, an increase of 1%.

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Median Sale Price
Last September, the median sale price for Fairfax County Homes was $456,000. This September, the median sale price was $450,000, a decrease of 1% or $6,000 compared to last year. The current median sold price is 6% lower than in August.

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
1,926
Current Contracts
1,055
Sold Vs. List Price
98.0%
Months of Supply
4.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
Up 45%
Vs. Year Ago
Months of Supply
In September, there was 4.2 months of supply available in Fairfax County, compared to 2.9 in September 2013. That is an increase of 45% 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 1,926 homes newly listed for sale in Fairfax County compared to 1,723 in September 2013, an increase of 12%. There were 1,055 current contracts pending sale this September compared to 1,024 a year ago. The number of current contracts is 3% higher than last September.

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Sale Price to List Price Ratio
In September, the average sale price in Fairfax County was 98.0% 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 36, higher than the average last year, which was 27, an increase of 33%.

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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.