HOMESbyRP of eXp Realty / Richard Pearrell
Fairfax, VA
Single-Family Homes
https://HOMESbyRP.com GRI, Associate Broker DC, MD, VA & REALTOR® in FL at eXp Realty, LLC / (301) 991-7061 /
Fairfax, VA
Wed Jan 22 2025
This week the median list price for Fairfax, VA is $1,007,500 with the market action index hovering around 63. This is less than last month's market action index of 65. Inventory has decreased to 20.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $1,007,500 | |
| Median Price of New Listings | $842,500 | |
| Per Square Foot | $397 | |
| Average Days on Market | 89 | |
| Median Days on Market | 60 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 5% | |
| Inventory | 20 | |
| Median Rent | ||
| Market Action | 63 | |
| Strong Seller's Market | ||
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,350,000 | 6,868 | 1 - 2.5 acres | 6 | 6.5 | 1 | 0 | 1 | 161 |
| $1,100,000 | 2,402 | 0.25 - 0.5 acre | 4 | 3.5 | 51 | 1 | 2 | 105 |
| $950,000 | 2,084 | 0.25 - 0.5 acre | 3 | 2.5 | 57 | 1 | 0 | 35 |
| $735,000 | 1,960 | 0.25 - 0.5 acre | 3 | 2 | 64 | 2 | 1 | 7 |