The Fairfax real estate market is exceptionally dynamic because of the advantages of buying property in the town. Fairfax is a small urban area with a population of 7,500 people. The attractive location and proximity to San Francisco increase its popularity even further.
Interested in buying real estate in Fairfax? Here is everything you need to know about the region, the price of property and the specifics of the local real estate market.
A Guide to the Town and the Region
An interesting fact about Fairfax is that it is the only town in the United States that has a Green Party majority in its governing council. Located in Marin County, California, it lies just 3.5 miles away from San Rafael.
According to the 2010 United States Census, there were 3,379 households in Fairfax. Approximately 28 percent of them had children under the age of 18. The average size of a household in Fairfax was reported at 2.2 people.
Fairfax’s climate is pleasantly mild in the summer and relatively cold in the winter. The maximum temperature in the region is around 85 degrees Fahrenheit and it is typically registered during July. December is the coldest month with the average lowest temperature being 40 degrees Fahrenheit.
As already mentioned, Fairfax is a green city. It has strict regulations that prevent chain stores. The same prohibition applies to plastic bags and styrofoam food packages. The town is recognized as a major mountain biking and hiking center. A nature preserve is located nearby and the region provides opportunities for outdoor activities during all months of the year.
The Condition of the Real Estate Market
The Fairfax real estate market is quite lively for such a relatively small town. The property trade reached its bottom in 2008 and since then, the number of sales in the region has been increasing on an annual basis.
The sales price of real estate fluctuates but it has remained relatively stable over the past few years. Hillside homes in Fairfax are one of the most popular options, representing more than 40 percent of the whole market in 2011. These residences are exceptional choices because of the beautiful views and the privacy that hillside properties provide in comparison to the houses located in the central part of the town.
Since 2012, the US real estate market has seen a general revival, which also affected Fairfax, California. Expert predictions are that the local housing business here will see some new developments and an increased interest from the buyers in the future.
Prices, Trends and Popular Property Options
According to mid-February 2013 data, the average price of a Fairfax real estate listing is 768,952 dollars. The median sales price is 539,300 dollars. Over the past year, home appreciation has reached 3.44 percent.
The Fairfax real estate market offers great diversity, the properties range from small, inexpensive houses to million-dollar luxurious mansions. The average price per square foot is 371 dollars, though the figure can get as high as 500 dollars per sqft.
Fairfax is a friendly town that has a relatively small community, which attracts many young families to the area. Its proximity to San Francisco and its active social life provide shopping, employment and entertainment. As a result, real estate here is constantly gaining popularity.
Even throughout the financial crisis years, Fairfax had one of the lowest rates of unsold properties in Marin County. The building of the local Good Earth Market – an organic foods and natural products store – led to even more dynamic real estate business developments.
Everything that Buyers Need to Know
Sufficient information about the Fairfax real estate market can be found online. People who are interested in purchasing a house here can start their research on the internet to get acquainted with the market options, the types of houses offered for sale and the average prices.
Understanding the specifics of the town, the demographics and the local infrastructure is important before making the final decision. Many new Fairfax property buyers have written testimonials that provide interesting facts about living in the area.
You can find houses, which have been on the market for some, time now and are currently being offered at a discounted price. Considering such options can be a great idea, especially if you are trying to buy a new home on a limited budget. Explore numerous listings, understand what the town has to offer and determine which real estate features are the most important for you and your family. Determining the specifics that you hold interest in will make it easier for you to narrow down the options.
Fairfax is a pleasant city to live in. Its green appeal, beautiful nature and friendly community attract many property buyers. Different kinds of houses are available for purchase. You will find something suitable, whether you are looking for an inexpensive house or a more sophisticated residence for your family. Investing into Fairfax real estate will be 100 percent worth it, as real estate development trends over the past few years have shown.