West Fairfax Housing Market Data

With relatively few transactions, there was a decrease in total units sold in April, with 31 sold this month in West Fairfax Real Estate. This month's total units sold was lower than at this time last year, a decrease from April 2011.

Versus last year, the total number of homes available this month is lower by 61 units or 34%. The total number of active inventory this April was 118 compared to 179 in April 2011. This month's total of 118 is higher than the previous month's total supply of available inventory of 105, an increase of 12%.

Last April, the median sale price for West Fairfax Homes was $402,500. This April, the median sale price was $380,000, a decrease of 6% or $22,500 compared to last year. The current median sold price is 13% higher than in March.

In April, there was 3.8 months of supply available in West Fairfax, compared to 4.3 in April 2011. That is a decrease of 11% versus a year ago.

This month there were 88 homes newly listed for sale in West Fairfax compared to 104 in April 2011, a decrease of 15%. There were 57 current contracts pending sale this April compared to 62 a year ago. The number of current contracts is 8% lower than last April.

In April, the average sale price in West Fairfax was 98.7% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 30, lower than the average last year, which was 39, a decrease of 23%.




Focus On: West Fairfax Housing Market			April 2012
Zip Code(s): 22033
Units Sold 31	Active Inventory 118	Median Sale Price $380,000	Days On Market 30

Down Vs. Year Ago	Down -34% Vs. Year Ago	Down -6% Vs. Year Ago	Down -23% Vs. Year Ago

		Units Sold With relatively few transactions, there was a decrease in total units sold in April, with 31 sold this month in West Fairfax Real Estate. This month's total units sold was lower than at this time last year, a decrease from April 2011.
Active Inventory Versus last year, the total number of homes available this month is lower by 61 units or 34%. The total number of active inventory this April was 118 compared to 179 in April 2011. This month's total of 118 is higher than the previous month's total supply of available inventory of 105, an increase of 12%.
		Median Sale Price Last April, the median sale price for West Fairfax Homes was $402,500. This April, the median sale price was $380,000, a decrease of 6% or $22,500 compared to last year. The current median sold price is 13% 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.



New Listings 88	Current Contracts 57	Sold Vs. List Price 98.7%	Months of Supply 3.8

Down -15% Vs. Year Ago	Down -8% Vs. Year Ago	No Change Vs. Year Ago	Down -11% Vs. Year Ago

		Months of Supply In April, there was 3.8 months of supply available in West Fairfax, compared to 4.3 in April 2011. That is a decrease of 11% 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.
New Listings & Current Contracts This month there were 88 homes newly listed for sale in West Fairfax compared to 104 in April 2011, a decrease of 15%. There were 57 current contracts pending sale this April compared to 62 a year ago. The number of current contracts is 8% lower than last April.
		Sale Price to List Price Ratio In April, the average sale price in West Fairfax was 98.7% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 30, lower than the average last year, which was 39, a decrease of 23%.



West Fairfax are defined as properties listed in zip code/s 22033.
*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.
Information 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.