Is Fairfield, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Fairfield has remained a Seller's Market.
Housing Prices in Fairfield, VA
How much do homes in Fairfield, VA cost?
Median Sold Price
$336,955
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Fairfield was $336,955 in June 2024, up 8.7% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $180K | +16.1% |
2 Bedrooms | $205K | $226K | +10.2% |
3 Bedrooms | $299K | $320.4K | +7.2% |
4 Bedrooms | $358.7K | $393.2K | +9.6% |
5+ Bedrooms | $424.2K | $460.9K | +8.6% |
Summary: Fairfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 8.6%.
Median Sold Price Compared To Nearby Cities
Henrico | $350.7K | $385.1K | +9.8% |
Brookland | $343.4K | $375K | +9.2% |
Fairfield | $310K | $336.9K | +8.7% |
Chickahominy | $467.1K | $500K | +7.0% |
Mechanicsville | $408.7K | $433K | +5.9% |
Housing Supply in Fairfield, VA
How many homes are available in Fairfield, VA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
224 | 229 | +2.2% |
Summary: The Fairfield real estate market had 229 homes for sale in June 2024, a 2.2% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 16 | 12 | -25.0% |
3 Bedrooms | 140 | 148 | +5.7% |
4 Bedrooms | 57 | 62 | +8.8% |
5+ Bedrooms | 10 | 6 | -40.0% |
Summary: The Fairfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
72 | 53 | -26.4% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Fairfield in June 2024, down by 26.4% month-over-month. Of the 53 sold homes, 42% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Fairfield, VA
How long does it take to sell a home in Fairfield, VA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 25 Days | +116.5% |
Summary: Homes in Fairfield had an average of 25 days on market in Jun 2024, up by 116.5% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 53 homes were sold in Fairfield; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.