Real estate market in Fairfax continues building steam

real estate prices photo

Home prices, home sales and building permits are continuing to rise in Fairfax County.

The average sales price of a home was $563,377 in March. That’s up 6.2 percent from a year earlier.

There were 1,256 homes sold that month and that’s a hike of 16 percent over March, 2016.

Houses on the market are selling quickly, as well. On average, homes that sold in the county in March were on the market for 53 days. That’s 16 days fewer than the 69 day average in March 2016.

You’re likely to be seeing more new single family homes on the market soon, since there was a 23.1 percent boost in the number of building permits issued in the first quarter of 2017 compared with the first quarter of 2016.

The numbers are contained in latest report from Fairfax County Office of Management and Budget.

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Ed Tobias
Ed Tobias brings more than four decades of reporting and news management experience to his work at FairfaxNews. Tobias managed news coverage for Associated Press Radio for over twenty years.  This included coverage of the 9/11 attacks, the Iraq War, Hurricane Katrina, the death of Princess Diana, the Challenger and Columbia shuttle disasters and national election primaries, conventions and campaigns.  He was part of the team that built AP’s on-line video operation. Prior to joining AP, Tobias was News Director at all-news WTOP in Washington, D.C. He has won two Ohio State Awards for his reporting and producing and he led coverage that won an Edward R. Murrow Award.