Is Falls Church, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Falls Church has remained a Seller's Market.
Key Takeaway
Falls Church is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Falls Church, VA
How much do homes in Falls Church, VA cost?
Median Sold Price
$731,350
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Falls Church have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Falls Church was $731,350 in April 2024, up 6.4% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239.9K | $255K | +6.3% |
| 2 Bedrooms | $349.9K | $351.2K | 0.4% |
| 3 Bedrooms | $675K | $749.9K | +11.1% |
| 4 Bedrooms | $829.5K | $892.5K | +7.6% |
| 5+ Bedrooms | $1.3M | $1.4M | +8.9% |
Summary: Falls Church housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Falls Church | $687.6K | $731.3K | +6.4% |
| Mason | $637.2K | $675K | +5.9% |
| Falls Church | $700K | $725K | +3.6% |
| Mc Lean | $1.2M | $1.2M | +2.4% |
| Providence | $625.7K | $629.6K | +0.6% |
Housing Supply in Falls Church, VA
How many homes are available in Falls Church, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 251 | 320 | +27.5% |
Summary: The Falls Church real estate market had 320 homes for sale in April 2024, a 27.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 28 | -6.7% |
| 2 Bedrooms | 49 | 60 | +22.4% |
| 3 Bedrooms | 55 | 74 | +34.5% |
| 4 Bedrooms | 49 | 70 | +42.9% |
| 5+ Bedrooms | 68 | 88 | +29.4% |
Summary: The Falls Church housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 89 | +23.6% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Falls Church, you could pay more than the asking price. 56.2% of homes here sold above asking price last month.
Summary: A total of 89 homes were sold or pending in Falls Church in April 2024, up by 23.6% month-over-month. Of the 89 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +23.3% |
Summary: Homes in Falls Church had an average of 20 days on market in Apr 2024, up by 23.3% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
6 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 April 2024, 89 homes were sold in Falls Church; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
