Home sales and average sales prices across Fairfax County rose in September, as buyers cashed in on lower interest rates despite ongoing economic concerns.
A total of 953 properties went to closing for the month, up from 920 in September 2024, according to figures reported Friday (Oct. 10) by Bright MLS, using data from MarketStats by ShowingTime.
Late summer and early spring delivered an opportunity for buyers to get more for their money — if they were financing home purchases, one analyst noted.
“Mortgage rates came down in August and early September, which brought some buyers into the market,” said Lisa Sturtevant, chief economist for Bright MLS, the region’s multiple-listing service.
At the same time, the impact of federal government and contractor layoffs and buyouts are causing headwinds likely to be further intensified by impacts of the government shutdown.
The local region “is showing us how sensitive the market is to broader economic and political uncertainty,” Sturtevant said. “In places where the federal government has a strong presence … we’re already seeing the impact of the shutdown and job insecurity.”
While the median price declined slightly, the average sales price of $878,016 in Fairfax was up 2.1% year-over-year. Increases were posted in all three sectors of the market:
- The average single-family-detached sales price of $1,163,561 was up 2.9%
- The average price of an attached home — townhouse or condominium — was up 3% to $475,189
- The average price in the condo-only segment was up 12.8% to $469,882
Total sales volume for the month stood at $844.73 million, up 7.1% year-over-year.
Sales of single-family detached houses represented 48.8% of the market for the month, a slight decline from 49.9% a year ago.
While prices are up, prospective purchasers in Fairfax had more options to look at during the month, with the 1,715 listings representing an increase of one-third from a year before.
As a result, buyers had more time to think things over. The average gap between listing and ratified sales contract stood at 26 days in September, up from 19 a year before.
Sellers received, on average, 98.3% of the listing price, down from 99.5% a year before.
“Sellers are adjusting to a new market reality,” Sturtevant said. “Buyers now have more options and more negotiating power, and price trends are starting to reflect that shift.”
On a per-square-foot basis, buyers in Fairfax spent $371 per square foot, in September up 1.6% from a year before and roughly in line with the average $373 for the first nine months of 2025, which also was up 1.6%.
Fairfax typically ranks in the middle of the pack for per-square-foot rates across Northern Virginia. In September, amounts were $545 in Falls Church, $500 in both Arlington and Alexandria, $296 in Loudoun and $253 in Prince William. Arlington was down year-over-year, Loudoun’s was flat and the others showed increases.
Across the Washington metro area, Bright MLS recorded 3,894 closed sales in September. That was up 4.4% year over year, growth attributed to lower interest rates.
But new pending sales across the region fell 3.3% year-over-year, even as mortgage rates stabilized.
“[That’s] a result of many home shoppers hitting pause in the face of the federal budget gridlock and job insecurity,” Sturtevant said.
Home-price growth has essentially stalled across much of the D.C. metro area, with the regional median sold price of $600,500 representing an increase of just 0.3% from a year ago.
Price performance varied widely across the region, with some suburban markets seeing modest growth while urban areas show declines, Bright MLS said.
Regionally, homes spent a median of 21 days on the market in September, 10 days longer than last year. Inventory has grown 27% year-over-year, largely because of the longer times it takes for homes to sell. Showings for the month essentially were flat at 90,805.
Figures represent most, but not all, sales across the market. September 2025 figures are preliminary and are subject to revision.
