Mon Sep 21 2020
This week the median list price for Fairfax, VA is $761,944 with the market action index hovering around 73. This is an increase over last month's market action index of 70. Inventory has held steady at or around 88.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$761,944|
|Per Square Foot||$257|
|Days on Market||44|
|Strong Seller's Market|
The market seems to have paused around this plateau. This week prices eased down a bit.Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,177,000||4,996||0.5 - 1 acre||5||4||11||3||3||94|
|$869,900||3,302||0.25 - 0.5 acre||4||3||32||9||9||26|
|$697,894||2,616||0.25 - 0.5 acre||4||3||43||7||6||23|
|$529,275||1,692||0 - 4,500 sqft||3||2||42||8||11||33|