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September 2012 - Fauquier County

September 2012 - Fauquier County

Fauquier County Economic Indicators 175 150 125 100 75 50 25 0 5. Residential Housing Market – Current Data The following charts provide data on various characteristics of the local residential housing market. The graphs display data for Fauquier County, the Greater Piedmont Area Association of Realtors, Northern Virginia Association of Realtors, and/or an Average of select counties. The Greater Piedmont Area Association of Realtors (GPAAR) is composed of the following counties: Fauquier, Culpeper, Orange, Madison, and Rappahannock. The Northern Virginia Association of Realtors (NVAR) is composed of the following counties or cities: Fairfax County, City of Fairfax, Arlington County, City of Alexandria, and City of Falls Church. The selected counties for purposes of averaging include Fauquier, Culpeper, Orange, Madison, Fairfax, Loudoun, Prince William, Rappahannock, and Spotsylvania. a) Residential Sales The County’s housing market remains stable throughout 2012 with some signs of growth. The average number of days houses are on the market have only shown seasonal fluctuation, but are slightly above the average of other local jurisdictions. However, houses on average have sold at 90% or better of the original list price throughout 2012. The number of homes sold has been the highest throughout 2012 since before the start of the recession. Additionally, the median homes sales price is beginning to increase to $300,000, a pre-recession level. Average Days on Market for Residential Sales Fauquier County Average of Select Counties GPAAR NVAR Source: Metropolitan Regional Information Systems, Inc. (MRIS) Office of Management and Budget Page 14

Fauquier County Economic Indicators 100.00% 97.50% 95.00% 92.50% 90.00% 87.50% 85.00% 82.50% 80.00% Source: Metropolitan Regional Information Systems, Inc. (MRIS) 400 375 350 325 300 275 250 225 200 175 150 125 100 75 50 25 0 Average Sales Price as a % of Average List Price Fauquier County Average of Select Counties GPAAR NVAR Source: Metropolitan Regional Information Systems, Inc. (MRIS) Number of Homes Sold Fauquier County Average of Select Counties GPAAR Office of Management and Budget Page 15

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