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FAIRFAX COUNTYREAL ESTATE MARKET DYNAMICS MARCH 2015

2,799 residential homes were listed “For Sale” in our market. Only 1,091 homes sold during MARCH.That’s a 2.6 month supply of homes if no other homes come on the market.2,349 additional homes came on the market, increasing inventory by 1,258 homes!

968 of those homes were priced $800,000 +. Only 135 of these homes sold during MARCH.That’s an 7.2 month supply if no other homes come on the market.457 additional homes came on the market, increasing inventory by 322 homes.

480 of those homes were priced $600,000 - 799,999. Only 187 of these homes sold during MARCH.That’s a 2.6 month supply if no others come on the market. 471 additional homes came on the market, increasing inventory by 284 homes.

625 of those homes were priced $400,000 - 599,999. Only 366 of these homes sold during MARCH.That’s a 1.7 month supply if no others come on the market.743 additional homes came on the market, increasing inventory by 377 homes.

594 of these homes were priced $200,000 - $399,999. 364 of these homes sold during MARCH.That’s a 1.6 month supply if no others come on the market.598 additional homes came on the market, increasing inventory by 234 homes.

Sales have dramatically increased 43% from February to MARCH 2015 causing the monthly supply of homes to drop a whopping 15%! The decrease in inventory is seen across all price ranges, most notably in the range of $800,000+, the inventory decreased from 10 months supply to 7 months! Though this spring surge of buyers have scooped up “old” inventory, Sellers continue to flood the market. Buyers are telling us that PRICE is the most critical factor in increasing property value and getting showings and sales. Here’s the good news…1,091 homes are selling each month. Yours can be $OLD if you’re willing to price competitively and expose it to the Brokerage community where 93% of all homes are $OLD each year! Call me today and let’s get yours $OLD!