Even as high mortgage interest rates continue to persist, housing real estate fever across the U.S. is not cooling down, and home prices in Fairfax County, Virginia, have jumped more than 10% compared to a year ago, according to a survey.
According to real estate information site Bright MLS announced on the 10th, there were 1,158 home sales under contract in Fairfax County in April, a 16.5% increase from 994 in the same period last year. The average price of houses for sale was $888,181, up 10.1% from a year ago.
By housing type, the sales price of single homes recorded $1,207,801, up 14.7% from the same period last year, leading the increase in price, while condos rose 7.8% to $405,146 and town homes rose 4.5% to $548,333. The total amount of housing transactions in April was $996,120,704, which exceeded $1 billion, which is 26.9% more than the total sales volume of $785,041,86 a year ago.
Among the homes sold, 291 were priced over $1 million, of which 32 were priced over $2.5 million and 6 homes were priced over $5 million. It took only 12 days for the property to be listed for sale and sold, and the sale price was sold at an average of 3% higher than the price quoted by the homeowner.
In addition, it was found that the number of properties for sale has been gradually increasing since April. As of last April, there were 1,025 homes registered for sale throughout the county, a 16.2% increase compared to the same period last year.