$3,978 Closing Credit*
$335,000
824 SqFt
1 Bed
•1 Full Bath
Richard A Esposito, Listing Office: Long & Foster Real Estate, Inc.
Is Parkfairfax, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Parkfairfax was a Seller's Market.
Key Takeaway
Parkfairfax is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Parkfairfax, VA
How much do homes in Parkfairfax, VA cost?
Median Sold Price
$380,000
$442/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+2.7%)
Key Takeaway
Homes in Parkfairfax have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Parkfairfax was $380,000 in October 2024, up 2.7% from last year, and the median price per square foot was $442.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320.1K | $329K | +2.8% |
| 2 Bedrooms | $405K | $423.4K | +4.6% |
| 3 Bedrooms | $548.2K | $494K | -9.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Parkfairfax housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| North Ridge / Rosemont | $557.5K | $675K | +21.1% |
| Fairlington | $525K | $565K | +7.6% |
| South Fairlington | $570K | $601K | +5.4% |
| Parkfairfax | $370K | $380K | +2.7% |
| North Ridge | $1.0M | $996.2K | -0.4% |
Housing Supply in Parkfairfax, VA
How many homes are available in Parkfairfax, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Summary: The Parkfairfax real estate market had 21 homes for sale in October 2024, a 23.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 0 | 2 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Parkfairfax housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Parkfairfax, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Parkfairfax in October 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Parkfairfax, VA
How long does it take to sell a home in Parkfairfax, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 19 Days | -4.1% |
Summary: Homes in Parkfairfax had an average of 19 days on market in Oct 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Parkfairfax are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Parkfairfax; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
