The Numbers: Understanding Today\'s Real Estate Market

The Numbers: Understanding Today’s Real Estate Market
Monica Florio
Long & Foster, Realtors
April 16, 2011

Interest rates
18%
5%

Local economy: Low unemployment

Defining a buyer’s market
An excess of supply over demand, leading to abnormally low prices
What you’ll see in a buyer’s market:
More days on the market
Incentives for buyers, like seller-paid closing costs and home warranties

Defining a seller’s market
An excess of demand over supply, leading to abnormally high prices
What you’ll see in a seller’s market:
Fewer days on the market
Homes selling for more than asking price
Multiple offers
Fewer contingencies, shorter contingency time frames

Housing cycles

Mid-Atlantic: Sold volume

Mid-Atlantic: Median sales price

Mid-Atlantic: Average days on market

Northern Virginia: Market overview

Northern Virginia: Median sales price

Northern Virginia: Active listings

Northern Virginia: Days on market

Northern Virginia: Months of supply
Inventory = Number of properties for sale
Number of homes sold in the last 30 days
5-7 months of inventory is a market in balance

Fairfax: Months of supply

Local housing market

Sources of information
Google Public Data
Metropolitan Regional Information Systems (MRIS)
Northern Virginia Association of Realtors® (NVAR)
The Long & Foster® Market Minute

The Smarter Homeowner Seminar Series
Register at:
www.urbanlivingintheburbs.com
Location:
Long & Foster Fair Oaks
13135 Lee Jackson Highway
Fairfax, VA 22033
703-651-2502

Monica Florio
Long & Foster, Realtors
703-651-2502
monica@LNF.com
www.urbanlivingintheburbs.com

The Numbers: Understanding Today\'s Real Estate Market

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