Fairfax home prices up, homes for sale down in September

real estate prices photo

The number of homes for sale in Fairfax County dropped in September and their prices went up.

County officials report the average sales price was $561,056, an increase of 5.8 percent over September 2017. The average price for a detached house $758,908, a 5.1 percent  boost. The average price for an attached house rose 5 percent.

Homes were on the market an average of 35 days, eight days fewer than a year earlier.

But, the number of homes sold in Fairfax County dropped 13.6 percent September to September. This year 999 homes were sold compared with 1,156 homes a year earlier.
Home building is also slowing. During the third quarter of 2018, 249 new single-family building permits were issued. That’s a 25.9 percent decrease from the number of permits issued during the third quarter of 2017.

 

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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.