MA ARCHIVED October 2016 | Page 55

Market Action Report

October 2016

Fairfax City

County: Fairfax City

Agent Name
Title
Phone
Website
Other

Community Information
Price Range: All | Properties: SFH - Con

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 October was 43, down 8.5% from
47 days last month and down 21.8% from 55 days in October of
last year. The October 2016 DOM was at its lowest level
compared with October of 2015 and 2014.

3 Mo Avg

80
70

65

60

55

50

43

40
30
20
10
0
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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 October 2016 Selling Price per Square Foot of $244 was up
0.6% from $242 last month and up 3.9% from 235 in October of
last year.

3 Mo Avg

290
270
250

244

235
221

230
210
190
170
150

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Selling Price versus Listing Price Ratio

Selling Price vs Original Listings 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 October 2016 Selling Price vs Original
List Price of 96.3% was down from 96.6% last month and up
from 95.4% in October of last year.

3 Mo Avg

Avg Selling Price divided by Avg Listing Price for sold properties during the month

100%
99%
98%
97%

96.3%
95.4%

96%
95%

94.3%

94%
93%
92%
91%
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Inventory / New Listings / Sales

Inventory / New Listings / Sales

300

178

160

172

188

187

195

202
166
133

124

131

165

244

221

239

237

245
198
136

117

94

140

190

174

172
104

131

117

109

91

89

50

94

100

166

150

173

200

233

250

172

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 October 2016 was 64, down 24.7% from 85 last month and
down 24.7% from 85 in October of last year.

0
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Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: SFH - Con
Data is provided courtesy of Coastal Association of REALTORS of MD, Inc., Metropolitan Regional Information Systems, Inc., Sussex County Association of REALTORS and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage
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.

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