$5,047 Closing Credit*
$425,000
1,134 SqFt
2 Beds
•2 Full Baths
Shelia I Jackson, Listing Office: Long & Foster Real Estate, Inc.
Is Fairfax County, 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 County has remained a Seller's Market.
Key Takeaway
Fairfax County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairfax County, VA
How much do homes in Fairfax County, VA cost?
Median Sold Price
$717,958
$348/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,647(+6.6%)
Key Takeaway
Homes in Fairfax County have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Fairfax County was $717,958 in October 2024, up 6.6% from last year, and the median price per square foot was $348.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $261.3K | $285K | +9.1% |
| 2 Bedrooms | $380.6K | $404.6K | +6.3% |
| 3 Bedrooms | $594.5K | $630.9K | +6.1% |
| 4 Bedrooms | $804.5K | $864.3K | +7.4% |
| 5+ Bedrooms | $1.1M | $1.2M | +7.7% |
Summary: Fairfax County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Counties
| Prince William County | $515.5K | $554.9K | +7.6% |
| Fairfax County | $673.3K | $717.9K | +6.6% |
| Arlington County | $717.7K | $762.2K | +6.2% |
| Montgomery County | $580.6K | $606K | +4.4% |
| Prince George's County | $415.1K | $429.5K | +3.5% |
Housing Supply in Fairfax County, VA
How many homes are available in Fairfax County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2,740 | 2,957 | +7.9% |
Summary: The Fairfax County real estate market had 2,957 homes for sale in October 2024, a 7.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 178 | 193 | +8.4% |
| 2 Bedrooms | 434 | 497 | +14.5% |
| 3 Bedrooms | 766 | 790 | +3.1% |
| 4 Bedrooms | 684 | 749 | +9.5% |
| 5+ Bedrooms | 678 | 728 | +7.4% |
Summary: The Fairfax County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 7.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 886 | 870 | -1.8% |
Asking Price vs. Sold Price
274 Homes Were Sold
Under Asking
217 Homes Were Sold
At Asking
379 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairfax County, you could pay more than the asking price. 43.6% of homes here sold above asking price last month.
Summary: A total of 870 homes were sold or pending in Fairfax County in October 2024, down by 1.8% month-over-month. Of the 870 sold homes, 31% were sold under asking, 25% were sold at asking, and 44% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +7.4% |
Summary: Homes in Fairfax County had an average of 18 days on market in Oct 2024, up by 7.4% compared to last year.
Breakdown of Home Sale Times
706 Homes Were Sold
Under 30 Days
139 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairfax County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 870 homes were sold in Fairfax County; 81% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
