2023 Real Estate Assessments Now Available; Average Residential Increase of 6.97% | fairfaxcounty.gov/
2023 Real Estate Assessments Now Available; Average Residential Increase of 6.97% | fairfaxcounty.gov/
2023 Real Estate Assessments Now Available; Average Residential Increase of 6.97%
More than 357,000 updated 2023 real estate assessment notices are being mailed to all property owners. Based on equalization changes (market-driven value increases or decreases), countywide residential real estate assessments are up an average of 6.97%, with the average assessment for all homes at $719,522. In 2022, the countywide average home assessment was $672,639.
At the end of 2022, home sale prices on average were still higher than they were a year before. With mortgage rates increasing during this past summer and fall, the rate of year-over-year price appreciation declined, but it still remained positive.
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