Fairfax per-square-foot sales prices up 5.8% from year ago

Fairfax per-square-foot sales prices up 5.8% from year ago
Fairfax per-square-foot sales prices up 5.8% from year ago

Home-sellers across the region in April were receiving, on average, more per square foot for their property than had been the case a year before.

All nine major local jurisdictions saw increases in average-per-square-foot cost, according to a GazetteLeader analysis of data reported May 10 by Bright MLS, the area’s multiple-listing service.

But the rate of increase varied, ranging from less than 1 percent to nearly 33 percent.

Three jurisdictions recorded per-square-foot average prices of more than $500 for the month: Falls Church, which catapulted to the top with an average of $554, up 32.2 percent from $419; the District of Columbia, up 0.9 percent from $553 to $538; and Arlington, rising 12.7 percent from $465 to $524.

Slightly less stratospheric but still high were Alexandria, rising 3.5 percent from $459 to $475; Fairfax County, up 5.8 percent from $348 to $368; and Montgomery County, up 3.8 percent from $316 to $328.

Under $300 were Loudoun County, up 11.3 percent from $266 to $296; Prince William County, up 8.7 percent from $229 to $249; and Prince George’s County, up 2.5 percent from $236 to $242.

Across the entire Bright MLS coverage area, which includes the District of Columbia and portions of six states across the Mid-Atlantic, the average per-square-foot price reported in April 2024 was $253, up 6.3 percent from $238.

 
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