The Long & Foster Market Minute
Focus On: Fairfax County Housing Market January 2015
Units Sold
717
Active Inventory
2,460
Median Sale Price
$440,000
Days On Market
56
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 22%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in January, with 717 sold this month in Fairfax County Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 290 units or 13%. The total number of active inventory this January was 2,460 compared to 2,170 in January 2014. This month's total of 2,460 is lower than the previous month's total supply of available inventory of 2,739, a decrease of 10%.

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Median Sale Price
Last January, the median sale price for Fairfax County Homes was $428,000. This January, the median sale price was $440,000, an increase of 3% or $12,000 compared to last year. The current median sold price is 5% lower than in December.

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
1,225
Current Contracts
997
Sold Vs. List Price
97.3%
Months of Supply
3.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 6%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Up 10%
Vs. Year Ago
Months of Supply
In January, there was 3.4 months of supply available in Fairfax County, compared to 3.1 in January 2014. That is an increase of 10% 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 1,225 homes newly listed for sale in Fairfax County compared to 1,160 in January 2014, an increase of 6%. There were 997 current contracts pending sale this January compared to 884 a year ago. The number of current contracts is 13% higher than last January.

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Sale Price to List Price Ratio
In January, the average sale price in Fairfax County was 97.3% of the average list price, which is 0.9% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 56, higher than the average last year, which was 46, an increase of 22%.

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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.