Here is the variation of home prices from 2019 to 2022 for two Fairfax County zip codes, 22308 and 22309 (including Mount Vernon). The chart presents the median sales price and the number of sold units from January 1 to September 30, 2022. It includes detached and twin/semi detached properties and townhouses.
For both zip codes, 22308 and 22309, we observed an increase in the value of homes for the three consecutive years, from 2020 to 2022. The prices went up more than 10% in 2021 compare to 2020 with 12.0% in 22308 and 11.4% in 22309 with an even higher rate of 13.5% in 2020 versus 2019 for the last zip code.
In 2022 the prices grew but at a lesser rate than the two previous years. Indeed, they went up 5.4% in 22308 and 2.6% in 22309 to reach $885,000 and $600,000 respectively.
Also, the market was more active in 2021 than the two other years, with 14.6% more sales in 22308 and 22.8% in 22309. 2020 and 2022 saw a reduction in the number of sales compared to the previous year.
Source of information: BrightMLS