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Brad Chandler here from Express Homebuyers. I’ve highlighted September 2011 Real Estate Statistics for Fairfax County, Virginia.

Up 9% from a year earlier, the average sales price of a home sold in September was $498,526. While prices rose, the number sold dropped by nearly the same percentage; the 963 homes sold in Fairfax County in September represent 8.5 percent less than last September. Those homes were also on the market 18% longer, though the average 60 days they went unsold is considered fairly quick. Sellers on the average are getting 95 percent of what they listed the house for – about a $5,000 drop on a $100,000 house.

Will We Run Out of Houses?

In August, after 1,245 homes were sold, about a 3-month supply of homes remain available in Fairfax County. If buyers keep buying at this rate and no new ones were put up for sale, the supply of houses for sale would run out in 3 months. Additionally, sellers are getting over 95 percent of what they list their home for. So if the seller listed their home for $100,000 they would, on average, end up selling it for $95,000. The number of homes for sale decreased 8 percent to 3,515, while only 1,549 home came on the market – 10 percent fewer homes than a year ago.

Fewer Buyers This Year

For the first time in recent years, we have seen a decrease in buyer activity on a monthly basis year over year. Given that interest rates remain near an all time low, this is surprising. Though buyer activity has slowed, overall most of the above factors indicate a very healthy real estate market in Fairfax County. If you have any questions about this information or selling your Fairfax County house fast please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is your September 2011 Real Estate Statistics for the District of Columbia.

In September, the average sales price of a home sold in the District of Columbia was $475,832, a decrease of 1 percent from a year earlier. Sellers are getting on average 95 percent of what they list their home for. So, if the seller listed their home for $100,000 they would, on average, end up selling it for $95,000. This shows some stability for seller.

Buying Trends

510 homes were sold in the District in September, a 2 percent increase from last September. Those homes took on average 77 days to sell – this is an increase of 13 percent. Based on 566 homes being sold in August there is a 4-month supply of homes. This means that if buyers continued to buy at the same pace as they did in August each month going forward and there were no new homes placed on the market for sale, the supply of houses for sale would run out in 4 months. The District currently has 2,282 homes for sale. This number has decreased about 18 percent from a year ago, while the number of homes that came on the market in September – 957 – decreased by 17 percent.

An Unexpected Development

The number of new contracts that buyers placed on homes for sale decreased from 555 to 522 – that’s down 6 percent from a year ago. This is the first time in a long time where we have seen a decrease in buyer activity on a monthly basis year over year. This is concerning and puzzling for two reasons. One, as interest rates remain near an all time low, one would think there would be more buyer activity to take advantage of these low rates and two, prices in some areas of DC have dropped dramatically over the past 4 years – again – you’d think people would be snapping up the deals. Overall, the market is still fairly healthy, but things have slowed. Could be the time of year coupled with buyers’ perception of the economy. If you have any questions about this information or selling your DC house fast please contact us at the number above.

An inherited house is an investment that provides an exciting opportunity to make or save money. People who have inherited a house usually have three options: live in it, rent it, or sell it. Since the first two options often aren’t realistic for most people, an inherited house is most often sold by its new owner.

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