The number of days on the market for homes that sold across Fairfax County in August was up 50% from a year before, according to new data.
The average of 24 days between listing and ratified sales contract — up from 16 in August 2024 — is a more modest jump than what D.C.’s closer-in suburbs have seen, but it still suggests prospective buyers are taking their time.
When the market is particularly active, Northern Virginia localities typically see houses sell in under 20 days on average, and sometimes, the average drops into the single digits when activity is frenetic.
Lisa Sturtevant, chief economist for the multiple-listing service Bright MLS, says the Mid-Atlantic market that includes Northern Virginia remains in something of a wait-and-see mode, based on factors including the overall economy, interest rates and impact of the Trump administration’s federal government cuts.
“The market is transitioning, though it is too early to call it a ‘buyer’s market’ or even a ‘balanced market,'” she said. “Rather, we are in a ‘stuck market’ as both buyers and sellers are moving cautiously.”
Home sales across Fairfax in August totaled 1,015. That’s down just under 1% from the 1,024 transactions a year before.
But in another indication that sellers no longer have the upper hand over buyers, the percentage of sales price to listing price for the month of 98.3% was down from 99.9% a year before in the county.
Prices are still rising in some market sectors, however:
- In the single-family-detached segment, the median sales price of $1,197,367 was up 4.1% from a year before
- In the condominium market, the average sale price of $437,174 was up 3.7%
But in the attached-home category — which includes townhouses, rowhouses and condos — the average sale price declined 1.5% year-over-year to $522,872.
Counting all homes that sold for the month, the average sales price of $893,516 countywide was up 4.1%, and the total sales volume of $914.9 million was up 4.8%.
For the month, the average per-square-foot sales price in Fairfax County was $366, an increase of 1.1% from $362 a year before but below the year-to-date average of $373.
Using per-square-foot figures helps smooth out monthly variations in the types of homes that go to closing, resulting in a single number for comparison to previous times.
Sturtevant said, regionally, high costs are keeping some potential purchasers from taking action.
“Many prospective homebuyers are being left on the sidelines, even as mortgage rates have started to ease,” she said. “Affordability remains a big challenge in the market and will only improve with further rate declines and slower price growth.”
As a result, some sellers also are backing away, according to Sturtevant:
“In addition to fewer new listings, more sellers are pulling their home off the market. Our recent survey found that the main reason sellers are delisting is because they are not getting offers at the price they hoped for. There is going to be a period where sellers will need to reset their price expectations, but many will relist their homes in the coming months.”
Across the Washington region as a whole in August:
- The 4,264 closed sales represented a decline of 2% from a year ago, although the number of new pending contracts was up 2.9%
- The median sold price was $625,000, up 2.1% from a year ago, although some local markets posted declines
- New listings coming on the market during the month were down 2.7% from a year before
Figures are from MarketStats from ShowingTime, and represent most, but not all, homes on the market. All August 2025 figures are preliminary and are subject to revision.
