Fairfax County January Housing Stats

For all of us analyticals out there, below is a great report on Fairfax County. 

Summary for the month of January 2011 vs 2010

-New Listings and Inventory from 2010 to 2011 is down
-Days on the market is up
-Median House price has gone up 2.9% = to $360,000

So what does this mean ?
We have been pretty stable here in Fairfax County for the last year.  Median prices, as you can see on the report, have not changed much since the begining of 2010.  Its still a buyers market as we have alot of inventory. This is a good report for us beside the fact that homes are staying on the market longer.  But the short sale inventory is driving that up higher.  In about 2 years these short sales will be for the  most part behind us. Don't expect any drastic changes in home values over the next year or 2.  There may be some slight spikes in the spring/summer markets but very small ones.