MA ARCHIVED February 2016

MARKET ACTION REPORT County: Fairfax February 2016 Fairfax County Agent Name Title Phone Website Other Community Information Price Range: $1,000,000 and Up | Properties: SFH - Condo Days On Market for Sold Properties Market Time The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for February was 71, down 26.8% from 97 days last month and down 35.5% from 110 days in February of last year. The February 2016 DOM was at its lowest level compared with February of 2015 and 2014. 120 Average Days on Market (Listing to Contract) for properties sold during the month 97 100 110 3 Mo Avg 71 80 60 40 20 0 M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 13 14 15 16 Selling Price per Square Foot Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The February 2016 Selling Price per Square Foot of $273 was up 11.8% from $244 last month and up 1.9% from 268 in February of last year. 300 290 280 270 260 250 240 230 220 210 200 Average Selling Price per Square Foot for properties that sold during the month 3 Mo Avg 273 268 243 M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 13 14 15 16 Selling Price versus Listing Price Ratio Selling Price vs Original Listing Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The February 2016 Selling Price vs Original List Price of 96.3 % was up from 95.7% last month and up from 95.7% in February of last year. 99% Avg Selling Price divided by Avg Listing Price for sold properties during the month 98% 3 Mo Avg 96.9% 97% 96.3% 95.7% 96% 95% 94% 93% M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 13 14 15 16 Inventory / New Listings / Sales Inventory New Listings Sales 498 572 654 632 615 590 625 580 490 407 411 461 554 685 743 748 728 715 750 713 612 525 520 558 647 784 885 893 894 872 881 830 686 583 583 655 1,000 Inventory / New Listings / Sales 900 This last view of the market combines monthly 800 inventory of Properties for sale along with New Listings 700 and Sales. The graph shows the basic annual 600 seasonality of the market as well as the relationship 500 between these items. The number of New Listings in 400 February 2016 was 221, up 67.4% from 132 last month 300 and up 25.6% from 176 in February of last year. 200 100 0 M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 13 14 15 16 Copyright © Coldwell Banker | Price Range: $1,000,000 and Up | Property Types: SFH - Condo Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association of Realtors MLS and Sussex County of Realtors MLS and may not reflect all relevant real estate activity. Coldwell Banker does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction. c o l dw el l b a n k er h o m es.c o m | 57

MA ARCHIVED February 2016 | Page 57