Is Fairfield, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Fairfield has remained a Seller's Market.
Housing Prices in Fairfield, VA
How much do homes in Fairfield, VA cost?
Median Sold Price
$333,479
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Fairfield was $333,479 in May 2024, up 9% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $180K | +16.1% |
2 Bedrooms | $200K | $227K | +13.5% |
3 Bedrooms | $292.5K | $316.1K | +8.1% |
4 Bedrooms | $355K | $387.7K | +9.2% |
5+ Bedrooms | $425K | $440K | +3.5% |
Summary: Fairfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
Brookland | $340K | $374.6K | +10.2% |
Fairfield | $306K | $333.4K | +9.0% |
Henrico | $349.9K | $380.5K | +8.7% |
Chickahominy | $460.9K | $489.9K | +6.3% |
Mechanicsville | $410K | $429.9K | +4.9% |
Housing Supply in Fairfield, VA
How many homes are available in Fairfield, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
215 | 213 | -0.9% |
Summary: The Fairfield real estate market had 213 homes for sale in May 2024, a 0.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 124 | 131 | +5.6% |
4 Bedrooms | 64 | 54 | -15.6% |
5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The Fairfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 59 | -1.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Fairfield in May 2024, down by 1.7% month-over-month. Of the 56 sold homes, 11% were sold under asking, 25% were sold at asking, and 64% were sold over asking.
Days on Market for Fairfield, VA
How long does it take to sell a home in Fairfield, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -16.2% |
Summary: Homes in Fairfield had an average of 12 days on market in May 2024, down by 16.2% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 59 homes were sold in Fairfield; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.