Category: Buyers

Median Sales Price in Fairfax County and Surrounding Areas

An interactive graph (mouse-over for totals) showing the Median* Sale Price for homes in Fairfax County, Prince William County and Loudoun County.

*Median is not the same as the Average Sale Price; it is in the middle. Meaning, half of the homes are higher and the other half are lower. Median prices tend to be less affected by a few unusually high or low prices, making them more accurate.

How REO Shares Affect Fairfax County Market

True to the data reported by corelogic®, the number of foreclosures and short sales remain at or below below 10% of the active listings in Fairfax County.    That’s good news for owners since the value of your home is based on the strength of your local market. The less frequent appearance of bank owned properties means that sellers don’t have to compete with low priced foreclosures, in essence, driving down the housing prices.  A glut of foreclosure properties may be good news for buyers, but not for owners and sellers.

 

 

Their research shows that falling REO shares strongly correlates to price appreciation.