Is Falmouth, 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, Falmouth was a Neutral Market.
Key Takeaway
Falmouth is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Falmouth, VA
How much do homes in Falmouth, VA cost?
Median Sold Price
$430,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Falmouth have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Falmouth was $430,000 in March 2024, up 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $312K | N/A |
| 2 Bedrooms | $325K | $337.4K | +3.8% |
| 3 Bedrooms | $365.2K | $368.5K | +0.9% |
| 4 Bedrooms | $490K | $490K | 0.0% |
| 5+ Bedrooms | $610K | $575K | -5.7% |
Summary: Falmouth housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 0.9%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
| George Washington | $415K | $439K | +5.8% |
| Aquia | $460.5K | $483.2K | +4.9% |
| Hartwood | $576.8K | $600K | +4.0% |
| Fredericksburg | $429.9K | $438.2K | +1.9% |
| Falmouth | $425K | $430K | +1.2% |
Housing Supply in Falmouth, VA
How many homes are available in Falmouth, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 | 134 | +8.9% |
Summary: The Falmouth real estate market had 134 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 35 | 35 | 0.0% |
| 4 Bedrooms | 57 | 58 | +1.8% |
| 5+ Bedrooms | 23 | 32 | +39.1% |
Summary: The Falmouth housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 39.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Falmouth, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Falmouth in March 2024, down by 22.2% month-over-month. Of the 14 sold homes, 50% were sold under asking, 43% were sold at asking, and 7% were sold over asking.
Days on Market for Falmouth, VA
How long does it take to sell a home in Falmouth, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 86 Days | 103 Days | +19.8% |
Summary: Homes in Falmouth had an average of 103 days on market in Mar 2024, up by 19.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Falmouth are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Falmouth; 64% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
