Fairfax County Sales Heat Up!

18 Mar
March 18, 2009

The market this Spring is off in full force! Agents holding open houses in Fairfax are reporting large numbers of people through their listings on a regular basis. Mortgage pre-approvals are up. And one of the greatest indicators of a stabilization of the market is the lowest inventory levels in 3 years!

The numbers speak for themselves: (February 2009 to February 2008 in Fairfax County)

Total Homes Sold: UP 21.16%
Average Days On Market: DOWN 8.13%
Average Sold Price: DOWN 19.90%
Active Listings: DOWN 20.85%

While I certainly have no crystal ball, indications to me say we may be at or have already reached the bottom of the market! With record low interest rates, an $8,000 tax credit for first time homebuyers, affordable homes, and a decreasing inventory, I can think of no reason to wait to buy a home if you’re in the market! It’s a perfect convergence of the ideal factors for home ownership!

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