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South Fairfax News

Thursday, November 7, 2024

Fairfax County home prices fell in Q1

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The median sale price of a home sold in the first quarter of 2023 in Fairfax County fell by $20,000 while total sales decreased by 60.8%.

From January through March of 2023, there were 1,473 homes sold, with a median sale price of $600,000 - a 3.2% decrease from the $620,000 median sale price for the same period of the previous year. There were 3,762 homes sold in Fairfax County in the first quarter of 2022.

The median sales tax in Fairfax County for the most recent year with available data, 2021, was $6,314 approximately 1.1% of the median home sale price for the first quarter of 2023.

The following histogram displays changes in median sales prices in Fairfax County from January 2022 to March 2023.

Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023$620000$620000$686000$686000$625250$625250$600000$600000$600000$600000

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