It was almost a photo-finish, but the Fairfax County real-estate market edged over the billion-dollar mark in July by a nose.
With 1,220 transactions and an average sales price of $849,736, total market volume for the month stood at $1.025 billion. That’s up 22 percent from the $839.8 million recorded in July 2023, according to figures from Bright MLS, based on data from MarketStats by ShowingTime.
It was the increase in sales that made most of the difference in the final tally, with those 1,220 properties going to closing representing a spike of 17.2 percent from 1,041 a year before. Average sales prices stood at $1,135,808 (+4.9% year-over-year) in the single-family market, $533,141 (-0.9%) in the attached market and $420,790 (-8.1%) in the condo-only segment.
Figures represent most, but not all, homes on the market. All July 2024 figures are preliminary and subject to revision.
