Just under 10% of Fairfax home-sellers cut their asking prices last week, but more prospective buyers were on the hunt for homes in the county, according to new data.
Countywide, listing prices were reduced for a total of 9.9% of active listings during the week that ended last Sunday (Nov. 2), according to figures reported by Bright MLS, the region’s multiple-listing service.
That’s up from 8.3% for the same week in 2024, surpassing the regional total (8.7%) and neighboring Arlington (6.2%) for the week. The city of Alexandria, however, saw 10.5% of listings record a price cut, and Loudoun County saw 11.6%.
Despite the federal government shutdown, Fairfax County and much of Northern Virginia are seeing robust interest among potential home-buyers, something unusual this time of year.
The county recorded 4,252 home showings for the week, according to Bright MLS. That represents a 6.7% increase from the same period a year ago, part of an overall trend mirrored in neighboring jurisdictions:
- Alexandria had 625 home showings, up 6.1% year-over-year
- Arlington had 728 showings, up 7.5%
- Loudoun had 1,588 showings, up 10.3%
Falls Church’s 38 showings for the week represented no change year-over-year, while across the D.C. region, the 23,070 showings were up 3.6% from the same period in 2024.
There could be a number of factors affecting showing totals, positively or negatively. Last year’s looming presidential race might have limited home visits for the week preceding Election Day, and the current government shutdown may have scared off some prospective purchasers, while giving others the time to tour homes.
“Recent buyer activity in the region reflects the significant amount of pent-up demand there has been in the market,” Bright MLS said. “With lower mortgage rates, more inventory and more room for negotiation, some buyers who have been ready — and who are not impacted by the federal government shutdown — have been able to act opportunistically.”
The government shutdown hasn’t derailed the market, but its impacts are being felt.
“The sky isn’t falling, but it is definitely cloudy,” said Lisa Sturtevant, Bright MLS’s chief economist.
The biggest impacts have been felt within the District itself, she said. The 2,389 home showings for the week in D.C. represented a year-over-year decline of more than 20%.
“The D.C. region is proving resilient so far, but the city itself, where federal workers make up a higher share of the workforce, is where we’re seeing the greatest risk,” Sturtevant said. “The longer the shutdown lasts, the wider this gap could grow.”
If the shutdown ends soon and federal workers receive back pay, Sturtevant expects a “modest” winter market with a “potentially robust” spring rebound. Without resolution, however, the region’s housing market could suffer, with fewer sales and softer prices in both the city and suburbs.
Across Fairfax, 211 new listings came on the market in the week ending Nov. 2, down 6.2% from a year before, compared to a regionwide dip of 2.4% to 1,379 during the same period. However, the gap isn’t necessarily indicative of any broader trend.
Arlington saw 45 new listings, down 6.3%, while Alexandria saw 36, up 16.1% and Loudoun County saw 98, up 2.1%.
Full sales figures for October are slated to be reported by Bright MLS next Monday, Oct. 10
