Current and Historical Fairfax County Real Estate Data ** Jan 1999 - April 2008 ** Current Annual Appreciation Rate -16% (Manassas: sales, rental)

[mojo_1979]

Fairfax County Historical Real Estate Prices

Fairfax County VA *** Year-Over-Year Median Price Comparison

**** 2008 *** 2007 *** Change
Apr / 400,000 / 474,200 / -15.65%
Mar / 395,000 / 456,000 / -13.38%
Feb / 405,000 / 448,000 / -9.78%
Jan / 395,000 / 456,000 / -13.20%

**** 2007 *** 2006 *** Change
Dec / 430,000 / 450,000 / -4.44%
Nov / 420,000 / 462,000 / -9.24%
Oct / 425,000 / 460,000 / -7.61%
Sep / 435,000 / 445,000 / -2.25%
Aug / 478,000 / 469,000 / +2.08%
July / 480,000 / 485,000 / -1.03%
Jun / 490,000 / 500,000 / -2.00%
May / 460,000 / 487,000 / -5.59%
Apr / 474,000 / 480,000 / -1.21%
Mar / 456,000 / 477,000 / -4.40%
Feb / 448,000 / 469,000 / -4.47%
Jan / 456,000 / 450,000 / +1.39%

**** 2006 *** 2005 *** Change
Dec / 450,000 / 484,000 / -7.05%
Nov / 462,000 / 482,000 / -3.99%
Oct / 460,000 / 489,000 / -6.02%
Sep / 445,000 / 485,000 / -8.25%
Aug / 469,000 / 500,000 / -6.20%
July / 485,000 / 503,000 / -3.58%
Jun / 500,000 / 500,000 / 0.00%
May / 487,000 / 489,000 / -0.50%
Apr / 480,000 / 458,000 / +4.80%
Mar / 477,000 / 441,000 / +8.14%
Feb / 469,000 / 416,000 / +12.69%
Jan / 450,000 / 408,000 / +10.60%

**** 2005 *** 2004 *** Change
Dec / 484,000 / 410,000 / +18.80%
Nov / 482,000 / 395,000 / +22.03%
Oct / 489,000 / 348,000 / +33.45%
Sep / 485,000 / 349,000 / +22.89%
Aug / 500,000 / 380,000 / +18.60%
July / 503,000 / 351,000 / +21.30%
Jun / 500,000 / 380,000 / +16.58%
May / 489,000 / 359,000 / +29.8%
Apr / 458,000 / 365,000 / +25.48%
Mar / 441,000 / 360,000 / +22.53%
Feb / 416,000 / 327,000 / +27.40%
Jan / 408,000 / 325,000 / +25.69%

**** 2004 *** 2003 *** Change
Dec / 410,000 / 339,000 / +20.94%
Nov / 395,000 / 315,575 / +25.17%
Oct / 395,000 / 312,000 / +26.60%
Sep / 395,000 / 315,000 / +25.40%
Aug / 395,000 / 332,000 / +18.98%
July / 397,000 / 325,000 / +22.15%
Jun / 400,000 / 325,000 / +23.08%
May / 385,750 / 315,000 / +22.46%
Apr / 365,000 / 299,900 / +21.71%
Mar / 360,000 / 289,900 / +24.18%
Feb / 326,000 / 274,900 / +18.59%
Jan / 325,000 / 274,950 / +18.20%

**** 2003 *** 2002 *** Change
Dec / 339,000 / 280,000 / +21.07%
Nov / 315,575 / 265,000 / +19.08%
Oct / 312,000 / 265,900 / +17.34%
Sep / 315,000 / 274,999 / +25.40%
Aug / 332,000 / 289,900 / +14.52%
July / 325,000 / 282,700 / +14.96%
Jun / 325,000 / 286,600 / +13.40%
May / 315,000 / 272,300 / +15.68%
Apr / 299,900 / 260,000 / +15.35%
Mar / 289,900 / 269,990 / +7.37%
Feb / 274,900 / 245,000 / +12.20%
Jan / 274,950 / 250,000 / +9.98%

**** 2002 *** 2001 *** Change
Dec / 280,000 / 255,000 / +9.80%
Nov / 265,000 / 236,900 / +11.86%
Oct / 265,900 / 235,950 / +12.69%
Sep / 274,999 / 240,000 / +14.58%
Aug / 289,900 / 250,000 / +15.96%
July / 282,700 / 244,900 / +15.43%
Jun / 286,600 / 245,000 / +16.98%
May / 272,300 / 234,450 / +16.14%
Apr / 260,000 / 226,000 / +15.04%
Mar / 269,990 / 230,000 / +17.39%
Feb / 245,000 / 220,000 / +11.36%
Jan / 250,000 / 218,875 / +14.22%

**** 2001 *** 2000 *** Change
Dec / 255,000 / 230,000 / +9.18%
Nov / 236,900 / 210,000 / +11.90%
Oct / 235,950 / 203,850 / +15.28%
Sep / 240,000 / 202,000 / +16.34%
Aug / 250,000 / 214,997 / +16.23%
July / 244,900 / 213,000 / +12.63%
Jun / 245,000 / 218,000 / +10.05%
May / 234,450 / 212,700 / +10.48%
Apr / 226,000 / 197,000 / +13.71%
Mar / 230,000 / 195,000 / +17.95%
Feb / 220,000 / 198,000 / +11.11%
Jan / 218,875 / 190,000 / +13.16%

**** 2000 *** 1999 *** Change
Dec / 230,000 / 197,500 / +14.94%
Nov / 210,000 / 191,000 / +9.95%
Oct / 203,850 / 189,890 / +7.96%
Sep / 202,000 / 194,000 / +3.09%
Aug / 214,997 / 207,750 / +3.49%
July / 213,000 / 209,000 / +1.87%
Jun / 218,000 / 209,000 / +3.83%
May / 212,700 / 193,700 / +9.68%
Apr / 197,000 / 192,000 / +1.56%
Mar / 195,000 / 189,000 / +5.24%
Feb / 198,000 / 184,900 / +8.17%
Jan / 190,000 / 190,000 / +0.00%

MRIS Statistics

[sundevil85]

I'll bet a lot of these people "don't gamble," LOL.

[mojo_1979]

According to these numbers, sale prices are now back to mid-2004 levels.

[sundevil85]

I was looking at some THs in Manassas. They are back to 1997 prices.

[mojo_1979]

Originally Posted by sundevil85

I was looking at some THs in Manassas. They are back to 1997 prices.

If you click on the link below and check out Manassas and Prince William county, they're looking at -30% over the past 12 months. Those numbers are absolutely astounding!

MRIS Statistics

[sundevil85]

Here is the sales history of one TH I was looking at.
1979 sold for 34,500
1987 sold for 50,000
2007 (April) sold for 150,000
2007 (July) sold for 199,000

It is currently on the market (REO) for 63,900--and the Assessor has the nerve to assess it at 192,000. There are some real players here, folks.

[lchoro]

I looked at rental units we own in Manassas, Leesburg, and Sterling since the early 90's. The prices in Leesburg and Manassas are back to 1998 levels. The price in Sugarland Run for the same TH is at the levels common in 2001-2002.

[mojo_1979]

Originally Posted by lchoro

I looked at rental units we own in Manassas, Leesburg, and Sterling since the early 90's. The prices in Leesburg and Manassas are back to 1998 levels. The price in Sugarland Run for the same TH is at the levels common in 2001-2002.

Yes, it really does seem like the further out from DC, the larger the price declines have been so far. The only question now, is how long will it last?

[VRE332]

Originally Posted by mojo_1979

Yes, it really does seem like the further out from DC, the larger the price declines have been so far. The only question now, is how long will it last?

supply vs. demand

[mojo_1979]

Originally Posted by VRE332

supply vs. demand

IMO, there seems to be plenty of supply and very little demand. The more prices move downard, the more demand there will be for all these houses.

I guess it really is that simple... The markets will determine the true value of all these houses. So do we really need the government to interfere? I believe they will turn what would be a relatively quick and sharp correction into a slow and prolonged slump.