The Long & Foster Market Minute

Focus On: West Fairfax Housing Market June 2021

Zip Code(s): 22033
Units Sold
106
Active Inventory
52
Median Sale Price
$535,000
Days On Market
7
Up
Vs. Year Ago
Up 148%
Vs. Year Ago
No Change
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 106 sold this month in West 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 31 units or 148%. The total number of active inventory this June was 52 compared to 21 in June 2020. This month's total of 52 is lower than the previous month's total supply of available inventory of 65, a decrease of 20%.

Median Sale Price
Last June, the median sale price for West Fairfax Homes was $534,300. This June, the median sale price was $535,000, which is similar compared to a year ago. The current median sold price is 2% 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
87
Current Contracts
86
Sold Vs. List Price
103.3%
Months of Supply
0.5
Up 24%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in West Fairfax, compared to 0.4 in June 2020. That is an increase of 38% 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 87 homes newly listed for sale in West Fairfax compared to 70 in June 2020, an increase of 24%. There were 86 current contracts pending sale this June compared to 72 a year ago. The number of current contracts is 19% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Fairfax was 103.3% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 15, a decrease of 53%.

The Long & Foster Market Minute West Fairfax are defined as properties listed in zip code/s 22033.
*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.