The Long & Foster Market Minute

Focus On: West Fairfax Housing Market September 2021

Zip Code(s): 22033
Units Sold
47
Active Inventory
68
Median Sale Price
$432,500
Days On Market
15
Down -31%
Vs. Year Ago
Up 62%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 50%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 47 sold this month in West Fairfax Real Estate versus 67 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 31% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 26 units or 62%. The total number of active inventory this September was 68 compared to 42 in September 2020. This month's total of 68 is higher than the previous month's total supply of available inventory of 62, an increase of 10%.

Median Sale Price
Last September, the median sale price for West Fairfax Homes was $517,500. This September, the median sale price was $432,500, a decrease of 16% or $85,000 compared to last year. The current median sold price is 14% lower than in August.

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


New Listings
75
Current Contracts
53
Sold Vs. List Price
100.8%
Months of Supply
1.4
Down -7%
Vs. Year Ago
Down -16%
Vs. Year Ago
No Change
Vs. Year Ago
Up 134%
Vs. Year Ago

Months of Supply
In September, there was 1.4 months of supply available in West Fairfax, compared to 0.6 in September 2020. That is an increase of 134% 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 75 homes newly listed for sale in West Fairfax compared to 81 in September 2020, a decrease of 7%. There were 53 current contracts pending sale this September compared to 63 a year ago. The number of current contracts is 16% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in West Fairfax was 100.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 15, higher than the average last year, which was 10, an increase of 50%.

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.