Home sales in Fairfax County seem to be following the rule of supply and demand. Prices are up and the number of homes for sale is down.
The latest numbers from Fairfax County officials report the average sales price in July was $603,920. That’s up 4.1 percent from July of 2017. Detached homes rose 2.7 percent. Attached homes rose 3.7 percent.
The supply of homes for sale has gone in the opposite direction. The number of active home listings fell from 3,253 in July of 2017 to 2,807 this past July. That’s a 13.7 percent drop.
Fairfax County unemployment edges up
The county’s unemployment rate was 2.7 percent this past June, up 0.3 percent from May. But the rate is still 0.5 percent less than it was a year earlier.