• Homes currently for sale: 58
  • Closed sales for homes in September 2013: 51
  • Average sale price: $595,328
  • Average list price: $605,624
  • Sales price to list price ratio: 98.3%
  • Average days on the market: 51
  • Number of sales currently pending: 42
  • Fairfax City 22030 Absorption rate for homes: 1.14 months of inventory. A normal, or balanced absorption rate is 5-7 months of inventory. Less than 5 months of inventory is indicative of a seller’s market, while more than 7 months of inventory is indicative of a buyer’s market.

Currently Listed Single Family Homes in Fairfax VA 22030

This Fairfax home market report analyzes sales of single family detached homes (not condominiums or townhouses) in 22030. This area of Fairfax City is in an extreme seller’s market, as evidenced by the low level of inventory, which is 1.14 as of today, November 1st. The average number of days on the market for homes in Fairfax City 22030 was 51 in September, which was slightly lower than the 5-year September average of 59 days. A lower average number of days on the market can be indicative of higher demand, while a higher average can reflect lower demand. However, this number can also fluctuate month-to-month based on how competitively sellers price their homes. For instance, the lower a home is priced, the more interest it draws from buyers and the faster it tends to sell.

The contract ratio (the number of pending home sales compared to the number of active listings not yet under contract) is another useful indicator of where the home market is going. In September, the contract ratio for home sales in Fairfax City 22030 was .42, which represented virtually no change from August of this year, and no change from September of 2012. It was a little lower than the 5-year September average of .50. This could be indicative of a slight slowing in the home market in Fairfax City, but it could also just be due to seasonal fluctuations. Generally speaking, a higher contract ratio points to home market movement in favor of sellers, while a lower contract ratio points to movement in favor of buyers.

Home sellers in Fairfax City are in a great position to benefit from the extremely low inventory. If you’d like a free comparative market analysis, call me on my cell phone at 703-462-0700. This will give you a better idea of the value of your home.

Home buyers in Fairfax City should find a great buyer agent to help them get the best deal possible in this competitive environment. I’m an experienced buyer agent who great up in Northern Virginia and knows the Fairfax home market very well. It would be my pleasure to help you find the right home!