What February 2011 Real Estate Statistics Mean for Home Owners in Fairfax County, VA
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|Fairfax County, VA||Feb-2011||Feb-2010||% Change|
|Avg Sold Price||$429,954||$403,162||6.65%|
|Median Sold Price||$357,500||$345,000||3.62%|
|Avg Days on Market||77||52||48.08%|
|Avg Sold Price to List Price||95.3%||96.7%||-1.44%|
While it is taking longer to sell a home in Fairfax County, the average and median sales price increased in February, 2011 as compared to February, 2010. The number of homes sold remained unchanged at 369, yet sellers in general are getting a lower sold price, percentage wise, compared to their original list price. Active listings and new listings are down from a year ago, while new pending contracts are up significantly. Buyers are becoming more active in the market. While it is difficult to draw conclusions from one month of data the numbers below signify a very healthy real estate market in Fairfax County. In January, 2011 there were 649 homes sold. This signifies a 3.75 month supply of houses which is much better than a typical healthy market defined by a 5-6 month supply.
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