$6,044 Closing Credit*
$509,000
1,114 SqFt
3 Beds
•1 Full Bath
Terry Rader, Listing Office: Coldwell Banker Realty
Is Parkfairfax, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Parkfairfax has remained a Seller's Market.
Key Takeaway
Parkfairfax is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parkfairfax, VA
How much do homes in Parkfairfax, VA cost?
Median Sold Price
$385,000
$438/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,500(+6.2%)
Key Takeaway
Homes in Parkfairfax have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Parkfairfax was $385,000 in November 2024, up 6.2% from last year, and the median price per square foot was $438.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320.1K | $325.9K | +1.8% |
| 2 Bedrooms | $405K | $416K | +2.7% |
| 3 Bedrooms | $548.2K | $494K | -9.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Parkfairfax housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 2.7%, 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 | $595K | $687.5K | +15.5% |
| Parkfairfax | $362.5K | $385K | +6.2% |
| Fairlington | $535.5K | $565K | +5.5% |
| South Fairlington | $592.5K | $609.5K | +2.9% |
| North Ridge | $1.0M | $995K | -1.0% |
Housing Supply in Parkfairfax, VA
How many homes are available in Parkfairfax, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The Parkfairfax real estate market had 20 homes for sale in November 2024, a 5.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Parkfairfax housing inventory by bedroom type for November 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parkfairfax, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Parkfairfax in November 2024, up by 100.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 4 Days | 24 Days | +408.8% |
Summary: Homes in Parkfairfax had an average of 24 days on market in Nov 2024, up by 408.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were 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 November 2024, 6 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.
