Is Fair Oaks, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Fair Oaks has remained a Seller's Market.
Housing Prices in Fair Oaks, VA
How much do homes in Fair Oaks, VA cost?
Median Sold Price
$635,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Fair Oaks was $635,000 in April 2024, up 6.5% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $243.2K | $284K | +16.8% |
2 Bedrooms | $381.8K | $430K | +12.6% |
3 Bedrooms | $631.7K | $680K | +7.6% |
4 Bedrooms | $750K | $875K | +16.7% |
5+ Bedrooms | $1.3M | $1.2M | -6.0% |
Summary: Fair Oaks housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.8%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Neighborhoods
Penderbrook | $350K | $385.5K | +10.1% |
Fair Oaks | $596K | $635K | +6.5% |
Housing Supply in Fair Oaks, VA
How many homes are available in Fair Oaks, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
64 | 87 | +35.9% |
Summary: The Fair Oaks real estate market had 87 homes for sale in April 2024, a 35.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 20 | 22 | +10.0% |
3 Bedrooms | 24 | 36 | +50.0% |
4 Bedrooms | 12 | 17 | +41.7% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Fair Oaks housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 36 | +56.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Fair Oaks in April 2024, up by 56.5% month-over-month. Of the 36 sold homes, 14% were sold under asking, 14% were sold at asking, and 72% were sold over asking.
Days on Market for Fair Oaks, VA
How long does it take to sell a home in Fair Oaks, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 4 Days | -32.7% |
Summary: Homes in Fair Oaks had an average of 4 days on market in Apr 2024, down by 32.7% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 36 homes were sold in Fair Oaks; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.