Fairfax County’s home-sales market surpassed the billion-dollar mark in May, something it narrowly missed a year before.
With 1,336 sales and an average sales price of $882,907, the total sales volume countywide in May stood at $1.14 billion, according to figures reported June 11 by BrightMLS, based on data from MarketStats by ShowingTime.
That’s up from the $998.15 million in transactions recorded in May 2023, marking an increase of about 14.6 percent.
Sales were up in both the single-family and attached sectors of the marketplace, as were average sales prices. And the market was hot, with homes taking a brisk average of just 12 days to find a buyer and sellers receiving, on average, nearly 103 percent of listing price.
Sellers, however, had more to choose from. The 1,208 properties on the market at the end of May 2024 represented an increase of nearly 30 percent from the inventory of May 2023.
Figures represent most, but not all, homes on the market. All May 2023 figures are preliminary and subject to revision.
