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Circle PM Blog - Insight, Stats and More

Inventory is on the rise.

Eric Guggenheimer - Tuesday, February 10, 2015

January Chill is in the Air! 

We have seen a spike in active rental units as compared to 2014. In Fairfax county Virginia there is 1255 available units as compared to 967 units available in January 2014, a 23% increase in AVAILABLE rental units. We consider anything more than 15% out of norms but we are not too concerned because one month is not a trend. 

We started tracking active units in 2014 so we really don't have solid evidence of a problem. Our only clue at this point is the days on market (DOM) which represents how many days a rental listing is in the MLS and it appears rather high compared to last year.

The days on market (DOM) which is a result of higher than usual inventory of rental units. 65 Days on market may be a record or at least a record in recent memory.

January Report for 2015

This report is prepared monthly with data collected from MRIS. Circle Property Management is a Licensed Broker and a member of NVAR, a user of the MLS service provided my MRIS. We make every effort to collect the data but provide no guarantee of the statistical data in our charts.

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