$7,113 Closing Credit*
$599,000
1,198 SqFt
2 Beds
•2 Full Baths
Deborah Mullan, Listing Office: Century 21 Redwood Realty
Is Fairfax City District, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Fairfax City District has remained a Seller's Market.
Key Takeaway
Fairfax City District is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairfax City District, VA
How much do homes in Fairfax City District, VA cost?
Median Sold Price
$750,000
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$69,833(+10.3%)
Key Takeaway
Homes in Fairfax City District have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Fairfax City District was $750,000 in October 2024, up 10.3% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $221.5K | $231K | +4.3% |
| 2 Bedrooms | $280K | $356.5K | +27.3% |
| 3 Bedrooms | $710K | $750K | +5.6% |
| 4 Bedrooms | $748.5K | $830K | +10.9% |
| 5+ Bedrooms | $1.1M | $974.9K | -12.6% |
Summary: Fairfax City District housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 12.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairfax City District | $680.1K | $750K | +10.3% |
| Fairfax City | $680.2K | $750K | +10.3% |
Housing Supply in Fairfax City District, VA
How many homes are available in Fairfax City District, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 66 | -4.3% |
Summary: The Fairfax City District real estate market had 66 homes for sale in October 2024, a 4.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 24 | 16 | -33.3% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Fairfax City District housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairfax City District, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Fairfax City District in October 2024, down by 12.0% month-over-month. Of the 22 sold homes, 14% were sold under asking, 32% were sold at asking, and 55% were sold over asking.
Days on Market for Fairfax City District, VA
How long does it take to sell a home in Fairfax City District, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 20 Days | +44.8% |
Summary: Homes in Fairfax City District had an average of 20 days on market in Oct 2024, up by 44.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Fairfax City District are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in Fairfax City District; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
