MA ARCHIVED February 2016

Fairfax City MARKET ACTION REPORT County: Fairfax City February 2016 Agent Name Title Phone Website Other Community Information Price Range: All | 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 69, up 15.0% from 60 days last month and up 25.5% from 55 days in February of last year. The February 2016 DOM was at a mid level compared with February of 2015 and 2014. Average Days on Market (Listing to Contract) for properties sold during the month 80 70 60 50 40 30 20 10 0 3 Mo Avg 69 55 42 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 $228 was down 11.1% from $257 last month and down 2.2% from 234 in February of last year. Average Selling Price per Square Foot for properties that sold during the month 3 Mo Avg 290 270 250 234 230 228 200 210 190 170 150 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 97.9% was up from 97.3% last month and down from 98.2% in February of last year. Avg Selling Price divided by Avg Listing Price for sold properties during the month 100% 3 Mo Avg 100% 99% 98.2% 99% 97.9% 97.7% 98% 98% 97% 97% 96% 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 250 100 50 0 165 150 132 124 130 200 245 233 237 239 244 221 This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in February 2016 was 75, up 63.0% from 46 last month and down 3.8% from 78 in February of last year. 300 77 104 117 141 132 127 127 125 117 94 89 91 109 131 166 173 172 174 190 172 140 104 94 117 136 198 Inventory / New Listings / Sales 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: All | 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 | 55

MA ARCHIVED February 2016 | Page 55