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Relative to many parts of the country Fairfax has endured the real estate slump fairly well. Statistics from 2006 to 2007 show a drop in total home sales and a relatively flat average and median price:
|
|
2007 |
2006 |
% Change |
|
Total Sold Dollar Volume: |
$ 7,347,643,560 |
$ 8,861,711,790 |
- 17.09 % |
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Average Sold Price: |
$ 541,982 |
$ 543,163 |
- 0.22 % |
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Median Sold Price: |
$ 459,990 |
$ 470,000 |
- 2.13 % |
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Total Units Sold: |
13,557 |
16,314 |
- 16.90 % |
|
Average Days on Market: |
88 |
63 |
39.68 % |
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Average List Price: |
$ 576,289 |
$ 568,698 |
1.33 % |
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Avg Sale Price as a
percentage of Avg List Price: |
94.05 % |
95.51 % |
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These statistics come from the multiple listing system and only reflect home that were sold through that system. Two reasons for the strength of the real estate market are that employment is strong and Fairfax has one of the highest household income in the country. Per the US Census in 2006 (most recent statistics available), it had the highest household income in the US at $100,318.
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Jane Jensen
Weichert
4701 Old Dominion Dr.
Arlington, VA 22207
Cell: (571) 228-5656
Fax: (703) 522-6838
Email: janejensen@comcast.net
http://www.REALVIRGINIAHOMES.COM
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