Home Values Rose In Fairfax County From Last Year

The average value of homes in Fairfax County, Virginia, increased since last year, and that will likely mean higher real estate tax bills this year, according to a new report. The Fairfax County 2021 real estate assessments report shows that 88% of homes in the county have increased in value on average by about 4.25%. That brings the average home price up to $607,752 this year — compared to last year’s average assessment of $582,976.

Fairfax CountyAccording to wtop.com, “The reason for the rise is record low-interest rates and low inventory. That’s good news for those looking to sell their homes at a premium price. Most but not all homes went up in value. While 88% of residential properties saw increased assessments, 4.4% went down and 7.6% stayed where they were. Townhouses and duplexes saw the greatest increase at 5.13%, followed by condominiums at 4.62% and then single-family houses at 4.17%.”

As per wtop.com, “The report notes that during the pandemic, commercial real estate, especially restaurants, retail, and hotels, declined in value because of an increase in vacancies, collection loss and overall market risk. While there is a proposal to reduce the real estate tax rate by a penny this year, that potential reduction will be offset by the assessment increase. So, most people on average will still see a higher tax bill this year.”

Properties in Fairfax County

6726 Duke Dr

3 beds, 1 full baths

Home size: 1,000 sq.ft.

Price: $419,000

Property Type: Detached Home for Sale

MLS Number: VAFX1194140

Subdivision: Bucknell Manor

Added: 04/19/21, Last Updated: 04/20/2021

6641 Wakefield Dr #705

1 beds, 1 full baths

Home size: 670 sq.ft.

Price: $179,900

Property Type: Condo for Sale

MLS Number: VAFX1170256

Subdivision: River Towers

Added: 12/02/20, Last Updated: 04/20/2021

13649 Venturi Ln #182

3 beds, 2 full,1 part baths

Home size: 1,634 sq.ft.

Price: $445,000

Property Type: Townhouse for Sale

MLS Number: VAFX1193196

Subdivision: Copper Crossing

Added: 04/15/21, Last Updated: 04/20/2021

1402 Northgate Sq #22b

2 beds, 2 full baths

Home size: 986 sq.ft.

Price: $268,000

Property Type: Condo for Sale

MLS Number: VAFX1191462

Subdivision: Northgate Condo

Added: 04/16/21, Last Updated: 04/20/2021

12005 Taliesin Pl #34

1 beds, 1 full baths

Home size: 934 sq.ft.

Price: $309,000

Property Type: Penthouse for Sale

MLS Number: VAFX1181636

Subdivision: Oak Park Condo

Added: 03/18/21, Last Updated: 04/20/2021

1911 Great Falls St

4 beds, 4 full baths

Home size: 1,492 sq.ft.

Price: $959,900

Property Type: Detached Home for Sale

MLS Number: VAFX1190952

Subdivision: Devon Park

Added: 04/07/21, Last Updated: 04/20/2021

3363 Beechcliff Dr

4 beds, 2 full,2 part baths

Home size: 2,365 sq.ft.

Price: $545,000

Property Type: Townhouse for Sale

MLS Number: VAFX1192790

Subdivision: Holly Acres

Added: 04/16/21, Last Updated: 04/20/2021

12001 Market St #108

2 beds, 2 full baths

Home size: 1,210 sq.ft.

Price: $499,900

Property Type: Condo for Sale

MLS Number: VAFX1193280

Subdivision: Market Street At Reston Town Center

Added: 04/16/21, Last Updated: 04/20/2021

Maryam

View posts by Maryam
Maryam N. is a Senior Writer at Nesbitt Realty. She is an expert on Fairfax County. Maryam has also worked previously as a geologist. She is a foodie and enjoys cooking and exploring new restaurants.