Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive single-family homes sold last month (November 2023).

Most expensive single-family homes sold

1. 10509 Beach Mill Rd — Tuner Farm — $7,750,000 (4 beds | 4.5 baths | 4,600 sq. ft.)
2. 6455 Kedleston Ct — McLean — $6,800,000 (6 beds | 9 baths | 13,450 sq. ft.)
3. 7100 Holyrood Dr — McLean — $4,600,000 (6 beds | 4.5 baths | 6,475 sq. ft.)
4. 918 Mackall Ave — McLean — $4,500,000 (6 beds | 6.5 baths | 8,132 sq. ft.)
5. 207 Deepwoods Dr — Great Falls — $4,200,000 (7 beds | 8.5 baths | 10,125 sq. ft.)

Least expensive single-family homes sold*

1. 8408 Orinda Ct Unit 277 — Woodlawn-Mt Vernon — $280,000 (2 beds | 1 baths | 900 sq. ft.)
2. 6002 Bangor Dr — Huntington — $449,888 (4 beds | 1.5 baths | 1,296 sq. ft.)
3. 3126 Headrow Cir — West Falls Church — $450,000 (2 beds | 1 baths | 720 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Fairfax County is looking to update its guidelines for how rental and mobile home developers can assist displaced tenants for the first time in a decade.

Director of Fairfax County Department of Housing and Community Development Tom Fleetwood presented the proposed guidelines to the Fairfax County Board of Supervisors at a housing committee meeting last week (Nov. 28).

“The goals are to maintain our commitments to affordable housing, to ensure that as many of our existing residents who depend on affordable housing are able to stay in it, and that we’re able to also move forward with redevelopment as we need to,” Fleetwood said.

Last updated in 2012, the Relocation Guidelines provide a plan for residential developers to follow for multi-family rental buildings or mobile homes that are going to be demolished, rehabilitated or converted.

Under the new guidelines, owners would be required to engage with the existing tenants and develop a relocation plan for them. The guidelines will also apply to all affordable housing owned, managed or funded by the Fairfax County Redevelopment and Housing Authority and properties subject to the Preservation Policy adopted in March.

“Our expectation is that [the developers will] provide moving cost reimbursement and housing counseling, and that they will provide staffing to conduct these activities,” Fleetwood said. “We want the owner to create a property profile so that we understand who’s living there, what the rent rolls look like, what opportunities there are for tenants to move into units that best match their needs.”

According to Fleetwood, another goal is for every tenant who is relocated to be able to return.

“In the event all tenants are unable to return, a priority ranking system tool will help property owners prioritize those with the greatest need,” the presentation said.

For example, priority could be given to a household with children or a disabled person living in it.

Developers could also be required to make up any differences in security deposits.

“If someone has to move, and the security deposit at their new home is higher than their existing security deposit, we would expect that a developer would pay that difference,” Fleetwood said.

Tenants facing permanent and temporary relocation will receive both relocation services and reimbursement of moving costs. Those who have to permanently move would also get relocation payments or a tenant assistance fund that would provide a time-limited rental subsidy.

Mount Vernon District Supervisor Dan Storck questioned how the guidelines and expectations would be enforced, which he said could be one of the biggest challenges.

Fleetwood said there are plans to hire a specialist who will be in charge of monitoring relocation plans.

The county will now conduct outreach and collect feedback before releasing a revised draft of the new guidelines next April. The proposal will be submitted for the board’s final approval in June.

Image via Google Maps

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the smallest and largest homes sold last month (October 2023).

Largest homes sold

1. 1332 Mccay Ln — McLean — $7,000,000 (6 beds | 10 baths | 13,722 sq. ft.)
2. 11600 Ten Penny Dr — Fairfax Station — $2,150,000 (6 beds | 8 baths | 10,333 sq. ft.)
3. 1327 Windy Hill Rd — McLean — $2,490,000 (5 beds | 9 baths | 9,992 sq. ft.)

Smallest homes sold*

1. 6655 Avignon Blvd — McLean — $1,650,000 (5 beds | 4.5 baths | 5,219 sq. ft.)
2. 228 Manvell Rd SE — Vienna — $2,145,000 (5 beds | 5.5 baths | 5,227 sq. ft.)
3. 10430 Deerfoot Dr — Great Falls — $1,600,000 (4 beds | 4.5 baths | 5,232 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive townhouses sold last month (October 2023).

Most expensive townhouses sold

1. 12079 Kinsley Place — Reston Town Center — $1,250,000 (3 beds | 3.5 baths | 2,466 sq. ft.)
2. 6638 Madison Mclean Dr — McLean — $1,191,000 (3 beds | 3.5 baths | 3,024 sq. ft.)
3. 3884 Rainier Dr — Fair Oaks — $1,165,000 (4 beds | 4.5 baths | 3,488 sq. ft.)

Least expensive townhouses sold*

1. 3803 Monte Vista Place Unit D — Mount Vernon — $210,000 (2 beds | 1.5 baths | 1,100 sq. ft.)
2. 8702 Walutes Cir Unit B — Mount Vernon — $250,500 (2 beds | 1 baths | 966 sq. ft.)
3. 8412 Fuerte Ct Unit 135 — Woodlawn-Mt Vernon — $252,500 (3 beds | 1.5 baths | 1,178 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive condos sold last month (October 2023).

Most expensive condos sold

1. 7887 Jones Branch Dr Unit 1002 — Tysons Corner — $1,406,000 (2 beds | 2 baths | 1,516 sq. ft.)
2. 8220 Crestwood Heights Dr Unit 1007 — Tysons Corner — $950,000 (2 beds | 2.5 baths | 1,773 sq. ft.)
3. 1761 Old Meadow Rd Unit 523 — Tysons Corner — $899,000 (2 beds | 2.5 baths | 1,389 sq. ft.)
4. 8370 Greensboro Dr Unit 1007/1009 — Tysons Corner — $783,000 (3 beds | 3 baths | 2,319 sq. ft.)
5. 11990 Market St Unit 1211 — Reston Town Center — $740,000 (2 beds | 2 baths | 1,523 sq. ft.)

Least expensive condos sold*

1. 7526 Savannah St Unit 26/101 — Idylwood — $200,000 (1 beds | 1 baths | 602 sq. ft.)
2. 6641 Wakefield De Unit 905 — Belle Haven — $200,000 (1 bed | 1 bath | 670 sq. ft.)
3. 2059 Huntington Ave Unit 1408 — Huntington — $200,000 (– beds | 1 baths | 550 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive single-family homes sold last month (October 2023).

Most expensive single-family homes sold

1. 1332 Mccay Ln — McLean — $7,000,000 (6 beds | 10 baths | 13,722 sq. ft.)
2. 7227 Westerly Ln — McLean — $3,800,000 (6 beds | 6.5 baths | 8,614 sq. ft.)
3. 1139 Towlston Rd — Greenway Heights — $3,100,000 (6 beds | 6.5 baths | 9,116 sq. ft.)
4. 6909 Blue Star Dr — McLean — $2,800,000 (6 beds | 8 baths | 7,822 sq. ft.)

Least expensive single-family homes sold*

1. 5624 Tremont Dr — Rose Hill — $426,000 (2 beds | 1 baths | 847 sq. ft.)
2. 6300 Hillview Ave — Virginia Hills — $440,000 (3 beds | 2 baths | 1,288 sq. ft.)
3. 5837 Blaine Dr — Huntington — $457,000 (2 beds | 1 baths | 1,046 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the smallest and largest homes sold last month (September 2023).

Largest homes sold

1. 12112 Vale Rd — Foxvale — $1,849,900 (7 beds | 5.5 baths | 10,400 sq. ft.)
2. 1016 Founders Ridge Ln — McLean — $3,625,000 (6 beds | 8 baths | 10,064 sq. ft.)
3. 942 Seneca Rd — Turner Farm — $2,200,000 (6 beds | 6.5 baths | 10,029 sq. ft.)

Smallest homes sold*

1. 2867 Franklin Oaks Dr — Oak Hill — $1,250,000 (4 beds | 4.5 baths | 5,200 sq. ft.)
2. 4206 Kimbrelee Ct — Mount Vernon — $1,354,900 (5 beds | 4.5 baths | 5,200 sq. ft.)
3. 9214 Dellwood Dr — Vienna – $1,835,000 (6 beds | 5.5 baths | 5,242 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive townhouses sold last month (September 2023).

Most expensive townhouses sold

1. 1432 Harvest Crossing Dr — McLean — $2,100,000 (5 beds | 4.5 baths | 6,254 sq. ft.)
2. 1390 Ingleside Ave — McLean — $1,389,000 (3 beds | 4.5 baths | 3,850 sq. ft.)
3. 3530 Sutton Heights Cir — Merrifield — $1,315,550 (3 beds | 2.5 baths | 2,380 sq. ft.)

Least expensive townhouses sold*

1. 9521 Hagel Cir Unit A — Lorton — $230,000 (2 beds | 1 baths | 986 sq. ft.)
2. 7964 Silverada Place Unit 129D — Mount Vernon — $235,000 (2 beds | 1.5 baths | 1,100 sq. ft.)
3. 3888 Mariposa Place Unit D — Mount Vernon — $255,000 (2 beds | 1.5 baths | 1,100 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.

The continuation of higher mortgage rates put a damper on Northern Virginia home sales in September, which were down 18.2% compared to a year earlier, according to the Northern Virginia Association of Realtors.

That decline was worse that August’s year-over-year decline of just 12.4% and reversed a trend of an improving market that had been seen since the spring.

Mortgage rates are ranging from 7% to 7.5%, according to the Realtors’ group. Sales were down 23.1% from August and the total of 1,180 was significantly below the five-year average of 1,685 units for September.

“It’s a challenging market for borrowers and buyers, especially first-time home buyers,” said NVAR Board Member Jamie DeSimone of Keller Williams Capital Properties. “The increase in interest rates is a primary deterrent for buyers and would-be sellers. Current homeowners have no incentive to forgo their lower interest rate unless they are forced to move. That’s why homebuying options are scarce.”

Inventory in September averaged 1.22 months, down 1% from September 2022 and down from the five-year average of 1.3 months. In good news, September’s inventory figures were a bit higher than August, when inventory stood at 1.08 month’s supply.  On average, homes stayed on the market for 17 days in September, down 32% from the previous September, when the average was 25 days on the market.

The tight supply continued to push prices up. The median sold price for a home in September was $650,000, up 5% from September 2022. The five-year average for median sold price in September is $594,028.

“We’ve been experiencing the ‘ouch factor’ as high mortgage rates have chilled the market. With the resulting limited inventory, sellers choosing to list their homes are receiving multiple offers and have leverage over buyers. The market remains competitive, as there are more people who want to buy than there are homes to sell,” said NVAR CEO Ryan McLaughlin.

The NVAR report covers Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.

Other highlights from the September report:

• Total sold volume: $868.9 million, down 14.4% compared to September 2022.
• Average sold price: $738,772, up 6% from September 2022.
• Number of active listings: 1,661, down 29.8% from September 2022.
• New pending sales: 1,220, down 12% from September 2022.

Specific information for each jurisdiction in September is below:

Photo via Tierra Mallorca on Unsplash. This article was written by FFXnow’s news partner InsideNoVa.com and republished with permission. Sign up for InsideNoVa.com’s free email subscription today.

Here in Fairfax County, real estate is a spectator sport. Let’s take a look at some of the most and least expensive condos sold last month (September 2023).

Most expensive condos sold

1. 7887 Jones Branch Dr Unit 1603 — Tysons Corner — $2,497,750 (3 beds | 3 baths | 2,780 sq. ft.)
2. 7887 Jones Branch Dr Unit 1804 — Tysons Corner — $2,303,000 (2 beds | 2.5 baths | 2,350 sq. ft.)
3. 7887 Jones Branch Dr Unit 1604 — Tysons Corner — $2,060,000 (2 beds | 2 baths | 2,350 sq. ft.)
4. 1761 Old Meadow Rd Unit 512 — Tysons Corner — $940,000 (2 beds | 2.5 baths | 1,631 sq. ft.)
5. 11776 Stratford House Place Unit 508 — Lake Anne — $800,000 (2 beds | 2 baths | 1,497 sq. ft.)

Least expensive condos sold*

1. 2059 Huntington Ave Unit 1003 — Huntington — $200,000 (1 beds | 1 baths | 850 sq. ft.)
2. 4945 Americana Dr Unit 105 — Annandale — $205,000 (1 beds | 1 baths | 624 sq. ft.)
3. 6631 Wakefield Dr Unit 919 — Belle Haven — $212,000 (1 beds | 1 baths | 714 sq. ft.)

*Minimum home value of $200,000 set to exclude certain land sales, retirement condos, properties with expiring ground leases, etc.