It was almost a photo-finish, but the Fairfax County real-estate market edged over the billion-dollar mark in July by a nose.
With 1,220 transactions and an average sales price of $849,736, total market volume for the month stood at $1.025 billion. That’s up 22 percent from the $839.8 million recorded in July 2023, according to figures from Bright MLS, based on data from MarketStats by ShowingTime.
It was the increase in sales that made most of the difference in the final tally, with those 1,220 properties going to closing representing a spike of 17.2 percent from 1,041 a year before. Average sales prices stood at $1,135,808 (+4.9% year-over-year) in the single-family market, $533,141 (-0.9%) in the attached market and $420,790 (-8.1%) in the condo-only segment.
Figures represent most, but not all, homes on the market. All July 2024 figures are preliminary and subject to revision.
••••
Both sales and average sales prices in Arlington’s single-family homes market in July were as flat as could be compared to a year before.
The 78 sales of single-family properties represented no change from a year before. The average sales price of $1,413,294 was up less than $1,000 (.07%) from a year ago.
That’s according to figures from Bright MLS, based on data from MarketStats by ShowingTime.
Fifty-eight of those 78 single-family homes changed hands for more than $1 million, including eight for more than $2.5 million.
In the overall market, incorporating attached properties (townhouses, rowhouses and condominiums along with single-family homes), there were a total of 196 transactions in July, up 3.6 percent from 198. The average sales price of $914,891 was up 5 percent from $871,042.
Total market volume for the month was just under $179 million, an increase of 8.7 percent from a year before.
Figures represent most, but not all, homes on the market. All July 2024 figures are preliminary and subject to revision.
