Is Falls Church, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Falls Church was a Seller's Market.
Key Takeaway
Falls Church is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Falls Church, VA
How much do homes in Falls Church, VA cost?
Median Sold Price
$725,000
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Falls Church have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Falls Church was $725,000 in March 2024, up 4.2% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $254.6K | +13.2% |
| 2 Bedrooms | $344.9K | $354.5K | +2.8% |
| 3 Bedrooms | $675K | $744K | +10.2% |
| 4 Bedrooms | $840K | $875K | +4.2% |
| 5+ Bedrooms | $1.5M | $1.4M | -5.3% |
Summary: Falls Church housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Dranesville | $1.1M | $1.2M | +10.7% |
| Falls Church | $685.1K | $728.4K | +6.3% |
| Mason | $647.4K | $675K | +4.3% |
| Falls Church | $695.5K | $725K | +4.2% |
| Providence | $616.1K | $635.2K | +3.1% |
Housing Supply in Falls Church, VA
How many homes are available in Falls Church, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 440 | 466 | +5.9% |
Summary: The Falls Church real estate market had 466 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 42 | 41 | -2.4% |
| 2 Bedrooms | 78 | 80 | +2.6% |
| 3 Bedrooms | 96 | 94 | -2.1% |
| 4 Bedrooms | 76 | 87 | +14.5% |
| 5+ Bedrooms | 148 | 164 | +10.8% |
Summary: The Falls Church housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.4%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 68 | -8.1% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Falls Church, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 68 homes were sold or pending in Falls Church in March 2024, down by 8.1% month-over-month. Of the 68 sold homes, 21% were sold under asking, 21% were sold at asking, and 59% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 17 Days | -26.8% |
Summary: Homes in Falls Church had an average of 17 days on market in Mar 2024, down by 26.8% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Falls Church are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 68 homes were sold in Falls Church; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
