Fairfax Real Estate Market Conditions & Reports, Fairfax Market Trends, Virginia

Market Commentary Provided by Maggie DelGallo
In my opinion, go for the foreclosures that are already bank-owned. If you end up writing or considering a Short Sale, do your homework. Often times, making an offer on a short sale can cost you months of waiting to hear whether your offer will be accepted by the bank(s).

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Maggie DelGallo
#1 Home Buyer's GUARDIAN Metro Realty
Reston, Virginia
703-932-7718
maggie@sellingvahomes.com
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Nearest Metro Area

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

90-120 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Average Home Price

$350,000 - View Graph Trend

Best Selling Price Range

Worst Selling Price Range

Compared to Last Year

Down 20-25%

Prices As % of Asking Price

85-90%

Multiple Offers?

Yes

Greatest Activity

First Time Buyers

Buyer Activity for the past 90 days in Fairfax is

Seller Activity for the past 90 days in Fairfax is

Is Financing Available For Qualified Buyers in Fairfax?

Existing Home Prices for the past 90 days are

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

Housing Hot Spots

Reason to Buy/Sell

Other

Average Sold Price

$350,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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