Fairfax County home closings fell to 897 in September, down from 953 a year earlier. The total also trailed the five-year September average of 930, according to data first reported by FFXnow from MarketStats by ShowingTime.

For Vienna-area homeowners watching their property values, the countywide numbers tell a split story. Single-family home prices rose 2% to an average of $1,220,641, while the condo sector dropped 10.3% to $421,643. Attached homes overall, including townhouses and condos, slipped 0.8% to $569,805.

Total dollar volume fell 3.7%, to just under $814 million from $845 million a year earlier.

Homes spent an average of 26 days on the market before going under contract, unchanged from September 2025 but four days longer than the five-year average. Sellers still captured 98.3% of their original listing price, also unchanged from a year before.

Buyers have more options than they have had in years. As of Sept. 30, 2,326 listings sat on the Fairfax County market, up 35.6% from a year before, according to Bright MLS data. Pending sales at month's end stood at 921, down about 11%.

Lisa Sturtevant, chief economist for Bright MLS, said higher mortgage rates are the main drag. In the Bright MLS September report, she said higher rates, not federal government cuts, are suppressing the D.C.-area housing market.

Active listings across the D.C. metro now sit above pre-pandemic levels, Sturtevant said. Some local markets could see prices dip below year-ago levels this fall, though large drops are not expected.

When the Federal Reserve raised interest rates on Sept. 16, Sturtevant warned that the hike "all but guarantees that mortgage rates will remain stuck at or above the 7% threshold," as reported by KOMO News. The 30-year fixed rate has climbed from about 6% in October 2025 to 7%, according to Freddie Mac data cited in the Bright MLS report.

Regionally, pending sales fell 17.1% and showings dropped 16.9% year-over-year across the D.C. metro. The overall rise in average sales prices was driven largely by a greater share of expensive single-family homes in the sales mix, Sturtevant said.

A Virginia Realtors survey of 511 members conducted Sept. 23-30 found 59% rated buyer activity "low" or "very low." The group's Buyer Activity Index fell to 24 in September, down from 28 in August. Only 4% of respondents expected strong buyer activity three months out.

FFXnow reported that 44% of survey respondents expected prices in their areas to be lower by year's end, with 20% expecting increases and 33% expecting little change. The Virginia Realtors' own three-month outlook was more bearish: 58% of respondents forecast a price decrease.

Fairfax County's per-square-foot price slipped to $367 from $371 a year earlier. Outlying counties moved the other direction: Loudoun rose to $301 from $296, and Prince William climbed to $255 from $246.

Year-to-date, Fairfax County home sales through September totaled 9,374, up 3.4% from 9,069 during the same period in 2025, according to an FFXnow analysis. September figures are preliminary.