The Long & Foster Market Minute
Focus On: Fairfax County Housing Market June 2015
Units Sold
1,875
Active Inventory
4,665
Median Sale Price
$495,000
Days On Market
27
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 18%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 17%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 1,875 sold this month in Fairfax County Real Estate versus 1,538 last month, an increase of 22%. This month's total units sold was higher than at this time last year, an increase of 18% versus June 2014.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 541 units or 13%. The total number of active inventory this June was 4,665 compared to 4,124 in June 2014. This month's total of 4,665 is lower than the previous month's total supply of available inventory of 4,769, a decrease of 2%.

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Median Sale Price
Last June, the median sale price for Fairfax County Homes was $499,000. This June, the median sale price was approximately the same at $495,000. The current median sold price is 1% lower than in June 2014.

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
2,377
Current Contracts
1,625
Sold Vs. List Price
98.3%
Months of Supply
2.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 11%
Vs. Year Ago
Up 20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -4%
Vs. Year Ago
Months of Supply
In June, there was 2.5 months of supply available in Fairfax County, compared to 2.6 in June 2014. That is a decrease of 4% 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 2,377 homes newly listed for sale in Fairfax County compared to 2,151 in June 2014, an increase of 11%. There were 1,625 current contracts pending sale this June compared to 1,358 a year ago. The number of current contracts is 20% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Fairfax County was 98.3% 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 27, higher than the average last year, which was 23, an increase of 17%.

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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.