Category: Local Market Stats

Homes in Burke Selling for MORE, FASTER!

After having just read a report on Bloomberg.com  touting that home prices for May rose the most in more than seven years according to the S&P/Case-Shiller index, I thought I’d share the Burke market stats with you.

In July 2008, the average sales price in Burke was $420,357. Today’s average sales price is $442,626. In July 2008, the average Days on Market (DOM) was 32. Today, you can sell your Burke home in less than one week!

It’s true – and you can clearly see – that there are seasonal differences, but these graphs show that over a 5 year period, homes in Burke are selling for more,  faster.

These interactive, mouse-over charts below show you the real time data for all home types. Here are detailed reports for detached homes, town homes and condominiums.

 

Median Days on Market for Fairfax County and Surrounding Areas

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

*Median is not the same as the Average Days on Market; it is in the middle. Meaning, half of the homes are on the market for more days and the other half are on for less days. Median is less affected by a few unusually long periods of time or short periods of time making it a more accurate figure.

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.