Is Falls Church, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Falls Church has remained a Seller's Market.
Housing Prices in Falls Church, VA
How much do homes in Falls Church, VA cost?
Median Sold Price
$720,379
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Falls Church was $720,379 in May 2024, down 0.6% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $255K | +13.3% |
2 Bedrooms | $367K | $350K | -4.6% |
3 Bedrooms | $679.7K | $749.9K | +10.3% |
4 Bedrooms | $840K | $893K | +6.3% |
5+ Bedrooms | $1.5M | $1.5M | -2.6% |
Summary: Falls Church housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes decreased by 4.6%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
Dranesville | $1.1M | $1.2M | +9.1% |
Mason | $629.3K | $677.5K | +7.6% |
Falls Church | $691.9K | $723.5K | +4.6% |
Providence | $617.1K | $636.4K | +3.1% |
Falls Church | $725K | $720.3K | -0.6% |
Housing Supply in Falls Church, VA
How many homes are available in Falls Church, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
317 | 369 | +16.4% |
Summary: The Falls Church real estate market had 369 homes for sale in May 2024, a 16.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 31 | 39 | +25.8% |
2 Bedrooms | 58 | 80 | +37.9% |
3 Bedrooms | 75 | 79 | +5.3% |
4 Bedrooms | 64 | 75 | +17.2% |
5+ Bedrooms | 89 | 96 | +7.9% |
Summary: The Falls Church housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.8%, 2 bedroom homes increased by 37.9%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
95 | 82 | -13.7% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Summary: A total of 82 homes were sold or pending in Falls Church in May 2024, down by 13.7% month-over-month. Of the 82 sold homes, 28% were sold under asking, 16% were sold at asking, and 56% were sold over asking.
Days on Market for Falls Church, VA
How long does it take to sell a home in Falls Church, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 20 Days | -10.1% |
Summary: Homes in Falls Church had an average of 20 days on market in May 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 82 homes were sold in Falls Church; 87% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.