Is West Fairfax, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Fairfax has remained a Seller's Market.
Housing Prices in West Fairfax, VA
How much do homes in West Fairfax, VA cost?
Median Sold Price
$410,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Fairfax was $410,000 in May 2024, up 5% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $329K | $380K | +15.5% |
3 Bedrooms | $360.7K | $357.4K | -0.9% |
4 Bedrooms | $438K | $469K | +7.1% |
5+ Bedrooms | $515K | $480K | -6.8% |
Summary: West Fairfax housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.5%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 6.8%.
Median Sold Price Compared To Nearby Cities
East Fairfax | $343.5K | $415K | +20.8% |
Salem | $294.7K | $325.6K | +10.5% |
Culpeper | $400K | $439.1K | +9.8% |
Cedar Mountain | $449K | $491.2K | +9.4% |
West Fairfax | $390.5K | $410K | +5.0% |
Housing Supply in West Fairfax, VA
How many homes are available in West Fairfax, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 46 | +4.5% |
Summary: The West Fairfax real estate market had 46 homes for sale in May 2024, a 4.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 15 | 15 | 0.0% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The West Fairfax housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 10 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in West Fairfax in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 10% were sold under asking, 60% were sold at asking, and 30% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 6 Days | -69.8% |
Summary: Homes in West Fairfax had an average of 6 days on market in May 2024, down by 69.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in West Fairfax; 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.