How is the Fairfax County Real Estate market?
Local fruit is fresh. Like the Fairfax County Real Estate stats are: local and fresh
The other day, I was chatting with a Realtor® friend of mine who lives on the West Coast, and we were talking about each of our housing markets. As expected, our markets are very different, but it’s hard to really know what’s going on in each market from what the national media reports.
Without our chat, I would have not known that her market was up significantly from last year and that it was well on its way to recover from the housing bubble of a few years back.
Real Estate is local
As they say, real estate is a very local matter, and unless we review the local statistics, it’s difficult to get the real picture. Even reading the “Washington area real estate news” is not local enough. As you know, the Washington DC area is comprised of a few counties in Maryland, a few counties in Virginia, plus Washington, D.C. – so it’s not quite local enough for getting an accurate picture.
So, when my Realtor ® friend asked me: Has the Fairfax County Real Estate Market recovered from the housing bubble of a few years back? I chose to answer her question with this article.
Let’s analyze the local stats (i.e. just the Fairfax County Real Estate market).
On this analysis, we’ll focus on the previous 5 years of activity in the Fairfax County Real Estate Market, and we’ll look at:
- Average sold prices,
- Average Days on Market, and
- Inventory vs. Closed Sales
Let’s get started: Continue Reading…