Fairfax County saw solid home sales and increasing prices in February, but the U.S. war in Iran and its potential to exacerbate existing affordability challenges may cloud the springtime market.
Sales countywide for the month totaled 691, up 6.2% from a year before, according to figures reported Tuesday (March 10) by MarketStats by ShowingTime.
The average sales price of $859,078 was up 6.2% year-over-year, although the median sales price of $729,000 and the average per-square-foot sales price of $376 were down slightly.
The average sales price for a single-family home across the county was $1,194,616 for the month, up 7.1%. The average sales price for all attached properties — townhouses, rowhouses and condominiums — was up 4.6% to $559,392.
In the condo-only sector, the average sales price was $445,670, up 9.6%.
Total sales volume for the month was $591.6 million, up 14.3%.
Homes that sold during the month spent an average of 28 days between listing and ratified sales contract, up from 22 a year before, and garnered 99.8% of listing price, down from 100.6%.
Prospective buyers had slightly more inventory to pick from. The 1,066 homes on the market at the end of February represented an increase of 9% from a year before.
The short-term trajectory of the county market looks solid, with the 879 pending sales in the pipeline at the end of February representing a 15% increase from a year before.
But the Trump administration’s recent military actions in Iran may complicate market conditions, one expert said.
“Buyers and sellers are moving with extreme caution,” said Lisa Sturtevant, chief economist for Bright MLS, the region’s multiple-listing service.
“The conflict with Iran has added a new layer of uncertainty just as we would normally expect spring market activity to pick up,” Sturtevant said in a March 10 analysis of February sales data.
“Despite mortgage rates falling to a three-and-a-half-year low, closed sales were essentially flat compared to last year, and new listings plunged to record lows across much of the region,” she said.
The mid-term forecast remains clouded by economic and, now, military concerns.
“If the conflict with Iran is limited, the housing market could rebound quickly,” Sturtevant said. “However, a prolonged conflict could stall home sales activity this spring. The combination of declining seller inventory and cautious buyers creates uncertainty.”
While national and international issues affect the local market, it is more sensitive to the give and take between sellers and buyers.
“If sellers continue to hold back and buyers return, the Washington metro area may begin to tighten, becoming more competitive for buyers who enter the market,” Sturtevant said.
Figures represent most, but not all, homes on the market. All February 2026 figures are preliminary and subject to revision.
Fairfax in middle for per-square-foot cost
For February, Fairfax County stood in the middle of the pack in for per-square-foot cost of real estate transactions regionally.
For sales during the month, buyers paid an average of $376 for every square foot in the county. That’s down 0.5% year-over-year.
Topping the list regionally was Falls Church, where the average per-square-foot sales price was $570. Unlike most other jurisdictions in the region, it was up year-over-year, rising 12.7%.
The average per-square-foot cost elsewhere was $485 in Arlington, down 7.8%; $475 in D.C., down 7.8%; $299 in Loudoun County, down 0.3%; and $255 in Prince William County, down 0.4%.
Across the Mid-Atlantic region, counting about 70 jurisdictions spread over six states and the District of Columbia, the average sales price for February was $251 per square foot, a 0.4% decline from a year before.
Figures were reported March 10 by Bright MLS, the region’s multiple-listing service.
D.C. region sees slight decline in sales, increase in prices
Total home sales and the median sales price across the Washington region moved 2.2% in February — but in opposite directions.
The 2,890 transactions recorded during the month represented a 2.2% decline from a year before, according to figures reported by Bright MLS.
The median sales price rose 2.2% to $610,000, according to the data.
Figures represent market conditions in the District; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery, Prince George’s and Frederick counties in Maryland.
For the region, the total number of home showings during the month was up 3% year-over-year to just over 81,000. Active listings at the end of the month were up 11% to 7,612.
