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.
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.
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.