Is Fairfield, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$326,574
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Fairfield was $326,574 in March 2024, up 12.4% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $180K | +16.1% |
2 Bedrooms | $202.5K | $220K | +8.6% |
3 Bedrooms | $279K | $314.9K | +12.9% |
4 Bedrooms | $350K | $381.3K | +8.9% |
5+ Bedrooms | $426K | $435.5K | +2.2% |
Summary: Fairfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
Fairfield | $290.6K | $326.5K | +12.4% |
Brookland | $340K | $370K | +8.8% |
Chickahominy | $450K | $488.9K | +8.7% |
Henrico | $350K | $374.9K | +7.1% |
Mechanicsville | $399.9K | $425K | +6.3% |
Housing Supply in Fairfield, VA
How many homes are available in Fairfield, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
197 | 180 | -8.6% |
Summary: The Fairfield real estate market had 180 homes for sale in March 2024, a 8.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 11 | 10 | -9.1% |
3 Bedrooms | 111 | 108 | -2.7% |
4 Bedrooms | 64 | 55 | -14.1% |
5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Fairfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 49 | -21.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Fairfield in March 2024, down by 21.0% month-over-month. Of the 49 sold homes, 37% were sold under asking, 12% were sold at asking, and 51% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 36 Days | +31.1% |
Summary: Homes in Fairfield had an average of 36 days on market in Mar 2024, up by 31.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 49 homes were sold in Fairfield; 67% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.