Is Parkfairfax, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Parkfairfax is a neutral'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

# BEDSOct 2023Oct 2024CHANGE
1 $320.1K$329K
+2.8%
2 $405K$423.4K
+4.6%
3 $548.2K$494K
-9.9%
4 --
N/A
5+ --
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
+21.1%
Fairlington
+7.6%
South Fairlington
+5.4%
Parkfairfax
+2.7%
North Ridge
-0.4%

Housing Supply in Parkfairfax, VA

How many homes are available in Parkfairfax, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1721+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

# BEDSSep 2024Oct 2024CHANGE
1 810
+25.0%
2 99
0.0%
3 02
+100.0%
4 00
0.0%
5+ 00
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 2024Oct 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
20 Days19 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Parkfairfax, VA

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