Is Fairfax County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairfax County is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Fairfax County has remained a Seller's Market.

Key Takeaway

Fairfax County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Fairfax County, VA

How much do homes in Fairfax County, VA cost?

Median Sold Price

$690,668

$336/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$39,450(+6.1%)

Key Takeaway

Homes in Fairfax County have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Fairfax County was $690,668 in April 2024, up 6.1% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $255K$270K
+5.9%
2 $369.9K$387.7K
+4.8%
3 $575K$614.4K
+6.9%
4 $787.1K$832.7K
+5.8%
5+ $1.1M$1.2M
+4.4%

Summary: Fairfax County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 4.4%.

Median Sold Price Compared To Nearby Counties

Arlington County
+8.8%
Fairfax County
+6.1%
Prince William County
+6.0%
Prince George's County
+5.3%
Montgomery County
+4.7%

Housing Supply in Fairfax County, VA

How many homes are available in Fairfax County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2,3453,120+33.0%

Summary: The Fairfax County real estate market had 3,120 homes for sale in April 2024, a 33.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 158195
+23.4%
2 364453
+24.5%
3 602824
+36.9%
4 599826
+37.9%
5+ 622822
+32.2%

Summary: The Fairfax County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 24.5%, 3 bedroom homes increased by 36.9%, 4 bedroom homes increased by 37.9%, and 5+ bedroom homes increased by 32.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
799942+17.9%

Asking Price vs. Sold Price

178 Homes Were Sold
Under Asking

156 Homes Were Sold
At Asking

608 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fairfax County, you could pay more than the asking price. 64.5% of homes here sold above asking price last month.

Summary: A total of 942 homes were sold or pending in Fairfax County in April 2024, up by 17.9% month-over-month. Of the 942 sold homes, 19% were sold under asking, 17% were sold at asking, and 65% were sold over asking.

Days on Market for Fairfax County, VA

How long does it take to sell a home in Fairfax County, VA?

Average Sale Time

Apr 2023Apr 2024CHANGE
14 Days12 Days-13.6%

Summary: Homes in Fairfax County had an average of 12 days on market in Apr 2024, down by 13.6% compared to last year.

Breakdown of Home Sale Times

865 Homes Were Sold
Under 30 Days

52 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fairfax County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 942 homes were sold in Fairfax County; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% 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 3 Days Ago

Newest Listings in Fairfax County, VA

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