FAIRFAX COUNTYREAL ESTATE MARKET DYNAMICS APRIL 2015

3,669 residential homes were listed For Sale in our market. Only 1,308 homes sold during APRIL.Thats a 2.8 month supply of homes if no other homes come on the market.3,035 additional homes came on the market, increasing inventory by 1,727 homes!

1,206 of those homes were priced $800,000 +. Only 147 of these homes sold during APRIL.Thats an 8.2 month supply if no other homes come on the market.640 additional homes came on the market, increasing inventory by 493 homes.

651 of those homes were priced $600,000 - 799,999. Only 250 of these homes sold during APRIL.Thats a 2.6 month supply if no others come on the market. 617 additional homes came on the market, increasing inventory by 367 homes.

872 of those homes were priced $400,000 - 599,999. Only 464 of these homes sold during APRIL.Thats a 1.9 month supply if no others come on the market.956 additional homes came on the market, increasing inventory by 492 homes.

801 of these homes were priced $200,000 - $399,999. 387 of these homes sold during APRIL.Thats a 2.1 month supply if no others come on the market.733 additional homes came on the market, increasing inventory by 346 homes.

Inventory has dramatically increased 31% from MARCH to APRIL 2015 while the monthly supply of homes remains relatively steady for a sales price of $800,000 and under! Sellers continue to flood the market with 29% increase of additional homes coming on the market; as a result, the market is beginning to soften. Buyers are telling us that PRICE is the most critical factor in increasing property value and getting showings and sales. Heres the good news1,308 homes are selling each month. Yours can be $OLD if youre willing to price competitively and expose it to the Brokerage community where 93% of all homes are $OLD each year! Call me today and lets get yours $OLD!