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FAIRFAX COUNTYREAL ESTATE MARKET DYNAMICS AUGUST 2015

4,347 residential homes were listed “For Sale” in our market. Only 1,346 homes sold during AUGUST.That’s a 3.2 month supply of homes if no other homes come on the market.1,929 additional homes came on the market, increasing inventory by 603 homes!

1,295 of those homes were priced $800,000 +. Only 169 of these homes sold during AUGUST.That’s an 7.7 month supply if no other homes come on the market.342 additional homes came on the market, increasing inventory by 173 homes.

715 of those homes were priced $600,000 - 799,999. Only 243 of these homes sold during AUGUST.That’s a 2.9 month supply if no others come on the market. 310 additional homes came on the market, increasing inventory by 67 homes.

1,100 of those homes were priced $400,000 - 599,999. Only 462 of these homes sold during AUGUST.That’s a 2.4 month supply if no others come on the market.631 additional homes came on the market, increasing inventory by 169 homes.

1,064 of these homes were priced $200,000 - $399,999. 408 of these homes sold during AUGUST.That’s a 2.6 month supply if no others come on the market.552 additional homes came on the market, increasing inventory by 144 homes.

The market is consolidating, the supply of inventory is in balance to the demand for homes. Overall from JULY to AUGUST 2015, new listings coming on the market are down 15% while sales have decreased 18%. Homes $800,000 and below are still selling with a consistent 3 month or less supply of inventory! We’re finding that PRICE is the most critical factor in increasing property value and getting showings and sales. Here’s the good news…1,346 homes are selling each month. Yours can be $OLD if you’re willing to price competitively and expose it to the Brokerage community where 98% of all homes are $OLD each year! Call me today and let’s get yours $OLD!