Fairfax County

[Joe Flacco]

Fairfax County active listings approaching 2013 lows.

 

[TJSum]

Many areas in the DC region are showing a real shortage in inventory. Seen some crazy contracts this spring because of it, prices were stable at best since last spring and now they are trying to take a 10% +/- jump overnight. A lot of crazy offers out there, but as of yet very few have settled to support higher pricing.

 

[Joe Flacco]

Many areas in the DC region are showing a real shortage in inventory. Seen some crazy contracts this spring because of it, prices were stable at best since last spring and now they are trying to take a 10% +/- jump overnight. A lot of crazy offers out there, but as of yet very few have settled to support higher pricing.

That's what I am seeing as well at the low end of the price range in further out neighborhoods like Germantown and Olney. 5% to 10% price jumps in March / April contracts versus Feb / March closings. Prices still less than pre-financial crisis highs though.