Per-square-foot home-sales prices were flat across Fairfax in June, and other data points were mixed as the county’s real-estate market closed out the first half of 2025.
The average per-square-foot sales price for homes that went to closing last month in Fairfax was $369, according to figures reported yesterday (Thursday) by Bright MLS, the Mid-Atlantic’s multiple-listing service.
That’s unchanged from a year before, and down slightly from the cumulative rate of $375 for homes sold across the county since the start of the year.
Across Northern Virginia, most jurisdictions posted year-over-year increases in per-square-foot prices:
- In Falls Church, the average per-square-foot sales price was $509, up 16.7% from $436. The average price of $519 for the first six months of the year ticked up 10.2% from the same period in 2024.
- Alexandria: average June price was $493 (2.1% increase from $482); average for first half of the year was $488 (up 1%)
- Loudoun County: average June price was $295 (0.3% increase from $294); average for the first half of the year was $300 (up 1.7%)
- Prince William County: average June price was $255 (2% increase from $235); average for the first half of the year was $257 (up 2.8%)
In Arlington, however, the average price of $482 in June was down 5.3% year-over-year. For the first half of the year, the average was $507, an increase of 0.4% from the same period in 2024.
Across the Mid-Atlantic region as a whole, June’s average per-square-foot sales price of $263 was up 3.5% from $254, and the year-to-date average of $257 was up 3.2%.
Comparing per-square-foot costs helps factor out monthly market swings, where a change in the mix of single-family housing versus attached units, such as townhomes and condominiums, can produce variations in the average sales prices of properties.
Total home sales in Fairfax in June were 1,324, an increase of 11.1% from 1,192 a year ago, according to Bright MLS data.
All residential properties in Fairfax that closed during the month averaged a sales price of $880,484, down 0.6% from $885,650. For single-family homes, the average sales price of $1,167,119 was down 0.8% from $1,176,205.
Adding up the sales and sales prices, the total market volume countywide in June was $1.16 billion, up 12.2% from a year before.
The regional market hasn’t stalled, but it is somewhat stagnant, said Lisa Sturtevant, chief economist for Bright MLS.
“The 2025 housing market is shaping up to be relatively slow, with transactions on pace to match the level last year,” she said. “Even though there is more inventory, high mortgage rates and high home prices are holding buyers back.”
In Fairfax, inventory was up more than 50% from a year before, aiding prospective purchasers.
“Buyers are starting to have more negotiating power in the market, which is impacting price momentum,” Sturtevant said.
Across Bright MLS’s Washington region, the median sales price of all homes that sold for the month was $650,000. Though up 1.6% year-over-year, it was the slowest rate of growth in two years.
The highest appreciation rates came in two of the most outlying parts of the region — Loudoun County in Virginia and Frederick County in Maryland.
Figures represent most transactions, but not all. Figures for June 2025 are preliminary and subject to revision.
Realtors expect prices to drop in coming months
More than four in 10 members of Virginia Realtors participating in a recent survey see home prices falling in coming months.
The trade organization’s monthly “flash survey” found that 41% of members believe sales prices will be lower in three months’ time. That’s up from 32% a month before.
A total of 25% expect prices to rise, down from 31% in the previous survey. There was no change in the 30% who believed the market would largely be unchanged.
Conducted online the week of June 26 to July 2, the most recent survey received 855 responses, including 647 realtors who participated in at least one transaction in the preceding month.
The increasing percentage of respondents expecting price declines likely represents a mix of economic concerns, affordability issues and the general cyclical nature of the market.
“It’s likely a combination,” Ryan Price, chief economist for Virginia Realtors, said.
“The market tends to slow down starting in August, and this typically correlates to a lower median price,” he told FFXnow. “But the swell of inventory that is hitting the market in many parts of Virginia is likely another factor. While prices have held firm in most places, there could be price softening in some local markets and at some price-points.”
Figures in the monthly survey are statewide, not broken down by region of the commonwealth.
