Is Fairfax County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Fairfax County has remained a Seller's Market.
Housing Prices in Fairfax County, VA
How much do homes in Fairfax County, VA cost?
Median Sold Price
$690,668
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Fairfax County was $690,668 in April 2024, up 6.1% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255K | $270K | +5.9% |
2 Bedrooms | $369.9K | $387.7K | +4.8% |
3 Bedrooms | $575K | $614.4K | +6.9% |
4 Bedrooms | $787.1K | $832.7K | +5.8% |
5+ Bedrooms | $1.1M | $1.2M | +4.4% |
Summary: Fairfax County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Counties
Arlington County | $688.2K | $748.6K | +8.8% |
Fairfax County | $651.2K | $690.6K | +6.1% |
Prince William County | $500K | $530.1K | +6.0% |
Prince George's County | $400K | $421.2K | +5.3% |
Montgomery County | $562.2K | $588.6K | +4.7% |
Housing Supply in Fairfax County, VA
How many homes are available in Fairfax County, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,345 | 3,120 | +33.0% |
Summary: The Fairfax County real estate market had 3,120 homes for sale in April 2024, a 33.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 158 | 195 | +23.4% |
2 Bedrooms | 364 | 453 | +24.5% |
3 Bedrooms | 602 | 824 | +36.9% |
4 Bedrooms | 599 | 826 | +37.9% |
5+ Bedrooms | 622 | 822 | +32.2% |
Summary: The Fairfax County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 24.5%, 3 bedroom homes increased by 36.9%, 4 bedroom homes increased by 37.9%, and 5+ bedroom homes increased by 32.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
799 | 942 | +17.9% |
Asking Price vs. Sold Price
178 Homes Were Sold
Under Asking
156 Homes Were Sold
At Asking
608 Homes Were Sold
Over Asking
Summary: A total of 942 homes were sold or pending in Fairfax County in April 2024, up by 17.9% month-over-month. Of the 942 sold homes, 19% were sold under asking, 17% were sold at asking, and 65% were sold over asking.
Days on Market for Fairfax County, VA
How long does it take to sell a home in Fairfax County, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 12 Days | -13.6% |
Summary: Homes in Fairfax County had an average of 12 days on market in Apr 2024, down by 13.6% compared to last year.
Breakdown of Home Sale Times
865 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During April 2024, 942 homes were sold in Fairfax County; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.