Economic Indicators: 2018 Northern Virginia Employment Special Report

economic graphic with arrows going up and down

The latest economic indicators report is out so you can see what’s up and what’s down in our local economy.

These monthly economic indicators serve as one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budget. The recently approved FY 2019 Budget is effective on July 1.

A special report on Northern Virginia employment is included this month. The latest available Fairfax County unemployment rate (March) is 2.7 percent.

Read the Latest Economic Indicators Report

 

What’s Up

Home Prices: The average sales price of all homes that sold in April 2018 in our county was $574,522, an increase of 2.6 percent over the April 2017 average sales price of $560,067.

Chart showing increase of home sale prices in March 2018 compared to March 2017 Home Sales: In April, 1,531 homes were sold in in the county, an increase of 5.5 percent over the 1,451 homes sold in April 2017.

 Tax Receipts: Sales Tax receipts distributed to Fairfax County in May for retail purchases made in March were $15.5 million, an increase of 2.2 percent over May 2017. Through May, FY 2018 Sales Tax receipts are up 2.8 percent compared to the same period of FY 2017.

 

What’s Down

Home Sales/Active Listings: The number of active listings in the county in April was 2,398, a decrease of 20.2 percent from the 3,006 listings in April 2017.

 

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