Fairfax County saw a slight decline in home prices and a more substantial drop in overall sales in August, as buyers pulled back in the wake of increased interest rates.
According to one key regional analyst, that could be the precursor to a sluggish remainder of the year.
A total of 757 properties changed hands countywide in August, according to figures reported Sept. 10 by MarketStats by ShowingTime. That’s down 5.7% from 1,015 transactions in August 2025.
Sales were down in both the single-family and attached sectors of the market by roughly even percentages.
The average sales price was down 0.1% to $892,657, led by a drop of 1.9% to $1,174,860 in the single-family detached segment of the market. The average sales price of attached homes — townhouses and condominiums — was up 4.5% to $577,988.
The market’s median sales price also was down, dropping 0.4% to $752,250.
Add up the sales and prices, and the county’s total sales volume for August was $857.4 million, down 6.3% from a year before.
Homes that went to closing in August spent an average of 25 days between listing and ratified sales contract, up a day compared to a year before, and garnered 98.8% of listing price, up from 98.3%.
While August’s sales were down, the number of pending sales in the pipeline at the end of the month was up slightly (2.5%) to 1,002. Buyers had more inventory to look through, as the number of active listings at the end of the month was up 20.3% year-over-year to 1,985.
Fairfax City records 26 sales in August
In the City of Fairfax, sales for the month totaled 26, down from 34 a year before.
The average sales price for single-family homes dropped 30.8% year-over-year to $801,641 and the average sales price for detached properties fell 30.8% to $575,495.
Given the smaller number of transactions in the city, swings up or down are not unusual.
The total sale volume in city home sales for the month was down 48.4% year-over-year to $14,870. There were 51 active listings on the market citywide at the end of the month.
Metro-area sales down, prices up
Across the Washington metropolitan area, sales in August stood at 3,872, down 9.2% from a year before. The median sales price was $640,000 regionwide, up 2.4%, according to figures reported by Bright MLS.
Lisa Sturtevant, the organization’s chief economist, said economic headwinds remain a major factor in the local market.
“With mortgage rates remaining elevated and affordability a growing challenge, many prospective homebuyers in the D.C. region are holding back, waiting for more favorable market conditions later in the year,” Sturtevant said.
The next few months are unlikely to see a major uptick in local market activity, she said.
“Expect a relatively slow fall market, with fewer buyers and sellers, slower price growth, and homes taking longer to sell,” Sturtevant said.
Across the region in August, buyers had 11.3% more homes to choose from than a year before, but showing activity was down 7.3%.
For the first eight months of the year, total sales across the metro area stood at 33,786, up 0.6% from the same period in 2025. Showings for the first eight months were up 0.8% to 751,581.
Fairfax in middle of per-square-foot rankings
Fairfax County is retaining its usual spot in terms of per-square-foot costs on a year-to-date basis, according to data from MarketStats by ShowingTime.
The average sales price of $377 per square foot across the county for the first eight months of the year was up from $373.
Falls Church led the regional pack at $523 per square foot, down from $536 a year before. At $514, up from $505 a year ago, Arlington edged out D.C. ($512, down from $527) for second place.
Among other localities in the immediate area:
- Alexandria: The average per-square-foot sales price was $502 for the first eight months of 2026, up from $468 a year before
- City of Fairfax: The average sales price of $364 was up from $347
- Loudoun County: The average sales price of $304 was up from $300
- Prince William County: The average sales price of $256 was unchanged
For August, average per-square-foot sales prices were $532 in D.C., $516 in Falls Church, $511 in Alexandria, $510 in Arlington, $366 in Fairfax County, $365 in the City of Fairfax, $302 in Loudoun County and $259 in Prince William County.
Across the Mid-Atlantic, the median per-square-foot sales price for the first eight months of the year was $261, up from $257 a year before.
Figures represent most, but not all, homes on the market. All August 2026 figures are preliminary and are subject to revision.
