Is West Fairfax, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, West Fairfax was a Neutral Market.
Housing Prices in West Fairfax, VA
How much do homes in West Fairfax, VA cost?
Median Sold Price
$395,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Fairfax was $395,000 in March 2024, up 1.3% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $357.7K | N/A |
3 Bedrooms | $310K | $357.4K | +15.3% |
4 Bedrooms | $427.5K | $455.6K | +6.6% |
5+ Bedrooms | $515K | $480K | -6.8% |
Summary: West Fairfax housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 6.8%.
Median Sold Price Compared To Nearby Cities
Cedar Mountain | $430K | $491.2K | +14.2% |
Culpeper | $390K | $433.8K | +11.2% |
Salem | $286.5K | $309.5K | +8.0% |
West Fairfax | $389.9K | $395K | +1.3% |
Housing Supply in West Fairfax, VA
How many homes are available in West Fairfax, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 46 | 0.0% |
Summary: The West Fairfax real estate market had 46 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 19 | 20 | +5.3% |
4 Bedrooms | 21 | 22 | +4.8% |
5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The West Fairfax housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 16 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in West Fairfax in March 2024, up by 33.3% month-over-month. Of the 16 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for West Fairfax, VA
How long does it take to sell a home in West Fairfax, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
10 Days | 16 Days | +53.5% |
Summary: Homes in West Fairfax had an average of 16 days on market in Mar 2024, up by 53.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in West Fairfax; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.