The Long & Foster Market Minute

Focus On: Fauquier County Housing Market March 2021

Units Sold
107
Active Inventory
78
Median Sale Price
$499,900
Days On Market
34
Down -12%
Vs. Year Ago
Down -73%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 107 sold this month in Fauquier County Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 208 units or 73%. The total number of active inventory this March was 78 compared to 286 in March 2020. This month's total of 78 is lower than the previous month's total supply of available inventory of 97, a decrease of 20%.

Median Sale Price
Last March, the median sale price for Fauquier County Homes was $425,000. This March, the median sale price was $499,900, an increase of 18% or $74,900 compared to last year. The current median sold price is 11% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
153
Current Contracts
151
Sold Vs. List Price
96.2%
Months of Supply
0.7
Down -19%
Vs. Year Ago
Up 30%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.7 months of supply available in Fauquier County, compared to 2.3 in March 2020. That is a decrease of 69% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 153 homes newly listed for sale in Fauquier County compared to 189 in March 2020, a decrease of 19%. There were 151 current contracts pending sale this March compared to 116 a year ago. The number of current contracts is 30% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Fauquier County was 96.2% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 70, a decrease of 51%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.