The Long & Foster Market Minute

Focus On: South Fairfax Housing Market June 2021

Zip Code(s): 22032
Units Sold
67
Active Inventory
33
Median Sale Price
$761,000
Days On Market
6
Up
Vs. Year Ago
Up 136%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 67 sold this month in South Fairfax Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 19 units or 136%. The total number of active inventory this June was 33 compared to 14 in June 2020. This month's total of 33 is higher than the previous month's total supply of available inventory of 20, an increase of 65%.

Median Sale Price
Last June, the median sale price for South Fairfax Homes was $650,000. This June, the median sale price was $761,000, an increase of 17% or $111,000 compared to last year. The current median sold price is 4% higher than in May.

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


New Listings
81
Current Contracts
57
Sold Vs. List Price
105.3%
Months of Supply
0.5
Up 102%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 4.5%
Vs. Year Ago
Up 63%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in South Fairfax, compared to 0.3 in June 2020. That is an increase of 65% 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 81 homes newly listed for sale in South Fairfax compared to 40 in June 2020, an increase of 102%. There were 57 current contracts pending sale this June compared to 47 a year ago. The number of current contracts is 21% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in South Fairfax was 105.3% of the average list price, which is 4.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 6, lower than the average last year, which was 11, a decrease of 45%.

The Long & Foster Market Minute South Fairfax are defined as properties listed in zip code/s 22032.
*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.