Photo: Ser Amantio di Nicolao · CC BY-SA 4.093 homes sold in Fair Lakes in the last year, at a typical $562K
Most homes sold are condos. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Fair Lakes homes are listed.
Every place Fair Lakes homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Fair Lakes.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
39% of Fair Lakes’ sales are condos, at $951K less than a house
13 houses and 36 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 13 sold in 12 months
- Per square foot
- $285VA $222
- Days to sell
- 26
- Sold over asking
- 69%
- Listings with a price cut
- 50%
typical sale · 36 sold in 12 months
- Per square foot
- $390VA $301
- Days to sell
- 61
- Sold over asking
- 14%
- Listings with a price cut
- 33%
Townhouses: 44 sold, typical $675K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.4 times the 2016 price
93 sales in the last year, against 193 in 2021 and a low of 98 in 2024. The typical sale went from $388K in 2016 to $562K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $550K buys in Fair Lakes
Check a listing against what Fair Lakes homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Fair Lakes are back to pre-pandemic levels, and more homes are for sale
We read every month of Fair Lakes’ home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 93 sales.
If you’re buying in Fair Lakes
- Shop in September. It brings about 16 new listings a month, close to the busiest month, with fewer bidding wars (28% over asking).
- Less room to haggle. Only 23% of listings cut their price, against 27% before the pandemic.
- Bid near asking. Buyers paid 100% of the list price on average; 26% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Summer brings the homes; spring brings the bidding wars
July has the most new listings (about 19 a month), but May is the most competitive: 46% of May sales close over asking. September offers nearly as much choice with fewer homes bid up (28%). November has the least competition (23%) but only about 7 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Virginia
| Fair Lakes now | 2017–19 | 2021 peak | VA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 26% | 24% | 57% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 50% | 45% | 73% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 23% | 27% | 19% | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 100% | 99.3% | 101.2% | 99.3% |
| Days to sellMedian days from listing to contract | 39 | 24 | 21 | 38 |
23 homes for sale on a typical day
That’s 2.3 times the 2024 low (10), 15% more than in 2017–19 and well under 2015’s 37.
1 in 4 listings has cut its price
23% in the last year, against 27% in 2017–19 and 25% across Virginia.
Since 2019, houses are up 37%, condos 30%
A house typically sold for $1.3M in the last year (13 sales), a condo for $386K (36).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Fair Lakes ranks 140th of 179 busy Virginia markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Fair Lakes is one of the state’s calmer markets.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Fair Lakes home costs about $3,383 a month
Price: Fair Lakes’ typical sale, last 12 months. Property tax at Fair Lakes’ 1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Fair Lakes is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in July
The month with the most choice. December has the fewest, about 4.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $562K home, about $5,410 a year.
Taxes vs. neighborsSchools
The schools grade for Fair Lakes, from test results, graduation and how much students grow.
Schools in Fair LakesTypical commute
The average one-way trip to work for people who live in Fair Lakes.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Navy, Braddock, Centreville and Union Mill sell for less a square foot
The busier markets within 25 miles of Fair Lakes, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Centreville | 676 | $586K | $325 | 45% | 30 |
| Fair Oaks | 362 | $596K | $356 | 38% | 33 |
| Fair Lakes | 93 | $562K | $365 | 26% | 39 |
| Braddock | 72 | $1.2M | $326 | 58% | 31 |
| Greenbriar | 67 | $785K | $393 | 52% | 22 |
| Union Mill | 53 | $1.2M | $308 | 40% | 41 |
| Navy | 27 | $1.1M | $308 | 52% | 38 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Fair Lakes, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Fair Lakes. People who follow the town see it, and so do people comparing Fair Lakes with their own town. No commission, no listing fee.
Questions about buying a home in Fair Lakes
What do homes sell for in Fair Lakes, VA?
93 homes sold in the year to May 2026 at a typical $562K, $365 a square foot. Houses sold for about $1.3M, condos for about $386K.
Is Fair Lakes a buyer’s or seller’s market?
A seller’s market: 35 homes were for sale in May 2026 and 9 sold, about 3.9 months of supply. Buyers paid 100% of asking on average, and 23% of listings cut their price.
When is the best time to buy in Fair Lakes?
July brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Fair Lakes?
About 1% of a home’s value a year. On a $562K home that’s near $5,410.
Where can I see homes for sale in Fair Lakes?
Zillow, Redfin, Realtor.com and Homes.com all carry Fair Lakes’ MLS listings; the search links above open each one filtered to Fair Lakes.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).