• Homes currently for sale: 26
  • Closed sales for homes in September 2013: 11
  • Average sale price: $711,886
  • Average list price: $712,599
  • Sales price to list price ratio: 99.9%
  • Average days on the market: 40
  • Number of sales currently pending: 14
  • Fairfax City 22031 Absorption rate for homes: 2.36 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.

See All Currently Listed Single Family Homes in Fairfax City 22031

This Fairfax City home market report takes a look at sales of single family detached homes (not condominiums or townhouses) in 22031. Home sales in Fairfax, 22031 are in a seller’s market, as indicated by the low level of inventory, which is 2.36 months as of today, November 3rd. The average number of days on the market in September for homes in Fairfax City, 22031 was 40, which was slightly lower than the 5-year September average of 43 days. A lower average number of days on the market can often be reflective of higher demand, but it can also be indicative of competitive pricing on the part of sellers.

When analyzing any home market, it’s important to look at the contract ratio (the number of pending sales compared to the number of active listings not yet under contract). The contract ratio for home sales in Fairfax 22031 was 0.38 in September, which represented virtually no change from August of this year and no change from September of 2012. The September contract ratio was 15% lower than the average contract ratio in September over the past five years, which was 0.45. In general, a lower contract ratio shows market movement in favor of buyers, while a higher contract ratio is reflective of a shift toward sellers.

Home sellers in Fairfax 22031 are still in a good position to benefit from the low inventory in this area. If you’d like a free comparative market analysis, feel free to call me on my cell phone at 703-462-0700. This will give you an idea of your home’s market value, which will help you determine if this is a good time for you to sell.

Home buyers in Fairfax 22031 should find a great buyer agent to help them negotiate the best deal possible. I’m an experienced buyer agent who grew up in Northern Virginia and knows this area very well. I would love to help you find the right home!