Home Buying in Northern Virginia: Navigating the Competitive Fairfax County Market

Hello and welcome to today’s blog post, where we’ll be discussing the ins and outs of home buying in the competitive market of Northern Virginia, with a particular focus on Fairfax County. My name is Abraham Walker and I am a real estate agent with Keller Williams Realty, dedicated to helping you find your perfect home.

Fairfax County, which accounts for 40% of all transactions in Northern Virginia, has been experiencing a very active and competitive market. The majority of homebuyers are moving to the northern part of the region, with Reston and Herndon being particularly popular.

February 2023 Fairfax County Top Sales By Price

Let's look at the top real estate transactions in Fairfax County by sales price in February 2023.
#AddressBedsSqFtDOMSPSP/LP Ratio
1524 Innsbruck Ave613232195$7,100,00094.7%
29133 Old Courthouse Rd615275251$5,900,00087.4%
32128 Polo Pointe Dr884290$4,238,472100.%
41431 Highwood Drive7834515$3,715,000100.5%
52035 Hunter Mill Rd51006040$3,300,00092.2%
68000 Old Falls Rd56797107$3,050,000101.7%
710698 Bright Willow Ln45671126$3,027,057149.2%
8318 Owaissa Rd SE8852981$2,905,000100.2%
96935 Espey Ln6782973$2,800,000100.%
101120 Cedar Dale Ln672864$2,695,000100.%

In February 2023, the average sales price in Fairfax County was $715,000, with single-family homes averaging $979,000, townhouses at $601,000, and condos at $371,000. The market is still seeing properties sell over the asking price, with the average over-asking price being $26,833. This means that homebuyers should be prepared to offer more than the list price in competitive situations.

To help navigate this challenging market, I recommend scheduling a virtual consultation via Zoom, where I can walk you through the home buying process and answer any questions you may have. You can schedule this consultation by filling out the Perfect Home Questionnaire at https://askaw.us/m/link-in-bio.

When searching for a home in Fairfax County, it’s crucial to be prepared for a competitive environment. Some tips for buyers include getting pre-approved, viewing properties as soon as they hit the market, and being ready to pay over the asking price for top-tier properties.

For sellers, it’s essential to prepare for a quick sale, declutter and depersonalize your home, and consider light staging. It’s also a good idea to request a rent-back if needed and ensure that your listing agent is communicating with the buyer’s agent and lender before accepting any offers.

In conclusion, the Northern Virginia housing market, particularly in Fairfax County, remains competitive. By working with a knowledgeable and experienced real estate agent like myself, you can navigate this market with confidence and find the perfect home for you and your family. Don’t hesitate to reach out and schedule your virtual consultation today!

Remember, I am Abraham Walker from Keller Williams Realty, and I am here to help you find your dream home in Northern Virginia. Schedule your virtual consultation now, and let’s get started on your home-buying journey!