Fairfax County home-sellers in April received somewhat less, on average, as a percentage of original listing price than those who sold a year before did.
The average home-sale amount across Fairfax in April was 102.04 percent of original listing price, according to figures reported by MarketStats by ShowingTime based on listing activity from Bright MLS.
That compares to 105.11 percent a year before, and is in line with the general drift lower across the Washington region.
Getting more than listing price means the market is, despite or perhaps because of limited inventory, holding up. But the decline from 105 percent to 102 percent seems to confirm that the market is less frazzled than a year ago.
Northern Virginia in the spring of 2022 was in the midst of a real-estate feeding frenzy, as buyers were attempting to beat interest-rate increases while sellers were happy to cash in. These days, buyers remain on the hunt for properties, but sellers are scarce – although that seems not to be resulting in bidding wars as intense as a year before.
Across the rest of Northern Virginia, the ratio of sales price to original listing price was up in April compared to a year before in Falls Church (102.37% vs. 100.93%) but down everywhere else:
• In Arlington, the rate of 99.36 percent was down from 102.56 percent.
• In Loudoun County, the rate declined to 101.67 percent from 104.62 percent.
• In Prince William County, the rate stood at 101.21 percent, down from 104.59 percent.
• In Alexandria, the rate of 100.37 percent was down from 102.56 percent.
For the Mid-Atlantic region as a whole, April’s ratio of sales price to listing price was 99.89 percent, down from 102.56 percent.
Figures represent most, but not all, homes on the market. April figures are preliminary and are subject to revision.
