• Homes currently for sale: 31
  • Closed sales for homes in September 2013: 20
  • Average sale price: $594,625
  • Average list price: $608,623
  • Sales price to list price ratio: 97.7%
  • Average days on the market: 31
  • Number of sales currently pending: 29
  • Fairfax City 22032 Absorption rate for homes: 1.55 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 Fairfax City 22032 Single Family Homes for Sale

This Fairfax City home market report analyzes sales of single family detached houses (not condos or townhomes) in Fairfax, VA 22032. With only 1.55 months of inventory as of today, November 3rd, this area of Fairfax City is in an extreme seller’s market. The average number of days on the market in September for home sales in Fairfax, 22032 was 31 days. This was 28% lower than the average from the past five years in September, which was 43 days. A lower number of average days on the market can often be indicative of higher demand, but it can also be caused by sellers pricing their homes more competitively.

Another useful indicator of home market conditions is the contract ratio, which is the ratio of pending home sales compared to the number of active listings not yet under contract. The contract ratio in September for home sales in Fairfax, 22032 was 0.82, which represented virtually no change from August of 2013 and no change from September of 2013. However, the September contract ratio was 20% higher than the average contract ratio from the past five years in September, which was .68. Generally speaking, a higher contract ratio points to home market movement toward sellers, while a lower contract ratio tends to indicate a shift toward buyers.

With the extremely low inventory of homes for sale, home sellers in Fairfax, 22032 are in an advantageous position. If you’d like a free comparative market analysis of your home, call me on my cell phone at 703-462-0700. This will give you a good idea of the fair market value of your home, and will help you decide if this is the right time to sell.

Home buyers in Fairfax, 22032 should find a great buyer agent to help them negotiate the best deal possible in this competitive buying environment. I’m an experienced buyer agent who grew up in Northern Virginia and knows the market here extremely well. Contact me so I can go to work for you to find you a great home!