Tue Aug 11 2020
This week the median list price for Fairfax, VA is $799,000 with the market action index hovering around 68. This is an increase over last month's market action index of 65. Inventory has held steady at or around 83.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$799,000|
|Per Square Foot||$269|
|Days on Market||41|
|Strong Seller's Market|
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,249,495||5,309||0.5 - 1 acre||5||4||4||3||3||87|
|$898,900||3,802||0.5 - 1 acre||5||4||17||6||4||21|
|$701,900||2,520||0.25 - 0.5 acre||4||3||44||6||6||35|
|$539,900||1,584||0 - 4,500 sqft||3||3||43||10||10||21|