Fairfax Annual Real Estate Trends

Fairfax
(Single Family Homes)
  Prices Other Percent Change
Average Median Sold DOM SP/LP Average Median Sold
1998 $354,750 $338,000 107 42 98.7%      
1999 $396,121 $379,500 125 27 100.6% 11.7% 12.3% 16.8%
2000 $468,591 $435,000 94 26 102.3% 18.3% 14.6% -24.8%
2001 $536,605 $499,500 82 54 98.9% 14.5% 14.8% -12.8%
2002 $616,324 $559,000 100 59 99.8% 14.9% 11.9% 22.0%
2003 $636,976 $599,000 106 54 99.3% 3.4% 7.2% 6.0%
2004 $710,918 $670,000 121 45 101.3% 11.6% 11.9% 14.2%
2005 $868,087 $787,500 78 50 100.8% 22.1% 17.5% -35.5%
2006 $812,304 $748,000 79 61 98.5% -6.4% -5.0% 1.3%
2007 $878,982 $789,000 65 65 99.8% 8.2% 5.5% -17.7%

Fairfax
(Condos & Town Homes)
  Prices Other Percent Change
Average Median Sold DOM SP/LP Average Median Sold
1998 $192,375 $197,000 8 25 99.5%      
1999 $239,008 $242,000 5 30 104.6% 24.2% 22.8% -37.5%
2000 $264,600 $260,000 5 17 108.3% 10.7% 7.4% 0.0%
2001 $388,143 $393,000 7 53 101.1% 46.7% 51.2% 40.0%
2002 $387,281 $372,500 16 47 100.9% -0.2% -5.2% 128.6%
2003 $398,467 $392,500 15 46 101.8% 2.9% 5.4% -6.3%
2004 $486,000 $473,000 8 39 108.6% 22.0% 20.5% -46.7%
2005 $518,463 $517,000 14 40 101.8% 6.7% 9.3% 75.0%
2006 $522,500 $475,000 7 37 100.9% 0.8% -8.1% -50.0%
2007 $534,286 $549,000 7 130 99.4% 2.3% 15.6% 0.0%

DEFINITIONS

Median Price
Median Price is that at which 50% of properties sold were above that price and 50% were below.
Average Price
Average Price is the sum of all prices divided by the number of sales.
DOM
Average Days on Market is the average time it took to sell all properties.
SP/LP
The average selling price divided by the average list price.

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Based on information from BAREIS for the period January 1998 through January 2007.