The median price for homes sold in Fairfax County in August was $602,000, up 5% from last August. That's a $33,000 increase in a year. The current median sold price is 2% lower than in July. The median is defined as the middle price of all homes sold in a month. As of August 2018, there was 1.2 months' supply of homes for sale, 12% more than the same time last year to learn more plenty of software are there for you.
Median rent in Fairfax is $1,693
The median rent in Fairfax, Virginia is $1,693. This city offers a variety of housing options. There are 38 types of apartments, ranging in size from one to four bedrooms. In addition to affordable rentals, Fairfax has many luxury apartments for rent.
Fairfax rent prices have increased in the past year, but remain below the national average. The median rent in Fairfax is $1,693 for a one-bedroom apartment and $2,016 for a two-bedroom apartment. In addition to the median rent, food and transportation expenses are also relatively high.
Rent prices in Fairfax vary by neighborhood. The Fair Oaks neighborhood, for example, is one of the most expensive. Fair Oaks apartments typically cost $2,308 a month. Other areas in Fairfax with higher median rents include Centerpointe, Courthouse Square, and Courthouse Square.
Median owner cost is $2,349
According to the U.S. Census Bureau, the median cost of owning a home in Fairfax County, VA is $2,349, which puts it in the middle of other local counties. However, the cost of owning a home isn't the only factor affecting home prices. Those who are looking to buy a home should consider the cost of financing a home.
Fairfax, VA's housing market is moderately competitive, with an average price of $570,000. That figure is up about 5% from last year. Meanwhile, the median rent is around $2,400. Fairfax's home prices are also above the Washington Metropolitan average.
Median real estate taxes are $2,349
The median real estate taxes in Fairfax, VA are almost 2.6 times higher than the state average. In Fairfax, there are two major districts: Falls Church and Fairfax County. Fairfax County has a median home price of $576,700, which is in the middle of the pack of other Virginia counties. In comparison, the median home price in Falls Church city and county is $810,900, which is over 40% higher.
Real estate taxes are one of the largest sources of local government revenue. They are calculated by multiplying the assessed market value of a property by the local tax rate. In Northern Virginia, the tax rate is twice as high as in other parts of Virginia. Homeowners pay part of their estimated taxes with their monthly mortgage payments. As a result, they are responsible for making sure they pay their taxes on time.
Most expensive neighborhoods in Fairfax are $635,000
Home values in Fairfax are high, with the median home value at $653,750. This is higher than the county's median of $635,00 and the national average of $277,796. About 68% of Fairfax homes are owned, while 28% are rented, and 4% are vacant. There are many types of homes available in Fairfax, including condos, single family homes, and townhomes. If you're interested in exploring this upscale community, consider contacting a Fairfax real estate agent and scheduling a tour.
McLean is another area of Northern Virginia with high home prices. In McLean, homes can cost up to $700,000, making it one of the most expensive real estate markets in NoVa.
Days on market for homes in Fairfax are 47
According to data from the Multiple Listing Service (MLS), the average number of days a home spends on the market has increased by 6% since January. That's good news for homebuyers, but it's not as good for sellers. In Fairfax, VA, there are 393 active homes on the market, and 24 of those have been listed within the last week. In addition to homes for sale in Fairfax area also features 721 rentals, ranging from $750 to $5,300 per month. Fairfax, VA also features a low crime rate, a number that's good news for buyers.
For a closer look, let's examine the data from August. For this month, there were 1,266 properties sold, down 3% from the previous month. This number is 28% lower than the number of homes listed in August 2021. Meanwhile, the number of homes on the market decreased by 384 units, or 12% from August 2018. In August 2018, there were 1,561 homes on the market, down from 2,347 in August 2021.