Falls Church December 2019 Home Sales:

• 51 homes went under contract in Falls Church. This is down 44% from the same time period in 2018.

• 40% of the homes that went to settlement in December 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $654,378 (up 12% from the same time period in 2018 when it was $585,748).

• 59 homes came on the market. That’s down 8% from December 2018.

• Homes that sold (closed) averaged 31 days on market, 9 days faster than in December of 2018.

• There is currently a 0.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 81 Falls Church homes for sale (townhouse, condo and single family).

Additional Year-End Stats – 2018 vs 2019:

Average sold price increased by 7.8% ($569,455 vs $613,702)

Total units sold decreased by 1.3%

Average sales price to original list price ratio increased just slightly – 98% to 99%

OVERALL: Falls Church continues to be an aggressive Sellers Market and the inventory continues to decrease.  The market in this area slowed again during December(which is not unexpected during the holiday season)…we saw a 37% decrease in number of homes that went under contract from last month and a 16% decrease in the number of new listings that came on the market.

When we segment this area by price points, there is a slight difference but overall still a Sellers Market.  The market above $800,000 has a 1.5 month supply of homes, whereas below $800,000 has a 0.4 month supply.  Inventory is low in both price points and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church November 2019 Home Sales:

• 81 homes went under contract in Falls Church. This is down 36.2% from the same time period in 2018.

• 59% of the homes that went to settlement November 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $613,020 (up 13.7% from the same time period in 2018 when it was $538,801).

• 70 homes came on the market. That’s down 30% from November 2018.

• Homes that sold (closed) averaged 17 days on market, 17 days faster than in November of 2018.

• There is currently a 0.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 93 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be an aggressive Sellers Market and the inventory continues to shrink.  We saw a 29% decrease in number of homes that went under contract from last month, a 46% decrease in the number of new listings that came on the market and the months supply of homes is now under 1.

When we segment this area by price points, there is a slight difference but overall still a Sellers Market.  The market above $800,000 has a 1.4 month supply of homes, whereas below $800,000 has a .6 month supply.  Inventory is low in both price points and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church October 2019 Home Sales:

• 114 homes went under contract in Falls Church. This is down just under 7% from the same time period in 2018.

• 62% of the homes that went to settlement October 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $613,064 (up 12% from the same time period in 2018 when it was $544,406).

• 129 homes came on the market. That’s down 24% from October 2018.

• Homes that sold (closed) averaged 20 days on market, 15 days faster than in September of 2018.

• There is currently a 1.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 130 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be an aggressive Sellers Market.  No significant changes from last month although new homes on the market was down from the previous month and the same time period last year.

When we segment this area by price points, there is a slight difference but overall still a Sellers Market.  The market above $800,000 has a 1.6 month supply of homes, whereas below $800,000 has a .6 month supply.  Inventory is low in both price points and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church August 2019 Home Sales:

• 105 homes went under contract in Falls Church. This is down 18.6% from the same time period in 2018.

• 43% of the homes that went to settlement August 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $596,631 (down 2.9% from the same time period in 2018 when it was $614,515).

• 127 homes came on the market. That’s down 27.4% from August 2018.

• Homes that sold (closed) averaged 35 days on market, 15 days faster than in August of 2018.

• There is currently a 1.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 135 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be an aggressive Sellers Market.  However, the number of homes that went under contract is down from last month and this time last year.  

When we segment this area by price points, there is a slight difference but overall still a Sellers Market.  The market above $800,000 has a 1.7 month supply of homes, whereas below $800,000 has a .7 month supply.  Inventory is low in both price points and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church July 2019 Home Sales:

• 139 homes went under contract in Falls Church. This is down 5.4% from the same time period in 2018.

• 49% of the homes that went to settlement July 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $649,937 (up from 0.9% from the same time period in 2018 when it was $644,004).

• 126 homes came on the market. That’s down 23.6% from July 2018.

• Homes that sold (closed) averaged 28 days on market, 25 days fasterthan in July of 2018.

• There is currentlya 1.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 131 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be an aggressive Sellers Market.  Homes are selling quicker than last month and fewer new listings came on the market. 

When we segment this area by price points, there is a slight difference (the gap is closing) but overall still a Sellers Market.  The market above $800,000 has a 1.6 month supply of homes (decrease from last month), whereas below $800,000 has a .6 month supply.  Inventory is low in both price points and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church June 2019 Home Sales: 

• 143 homes went under contract in Falls Church. This is down 2.72% from the same time period in 2018.

• 39% of the homes that went to settlement June 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $640,488 (up from 7.18% from the same time period in 2018 when it was $597,557).

• 162 homes came on the market. That’s down 24.65% from June 2018.

• Homes that sold (closed) averaged 34 days on market, 11 days faster than in June of 2018.

• There is currently a 1.4 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 172 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be a Sellers Market.  However, the market is slowing a bit, compared to last month, fewer homes came on the market, went under contract and days on market increased.

When we segment this area by price points, there is a difference but overall still a Sellers Market.  The market above $800,000 has a 2.6 month supply of homes (very similar to last month), whereas below $800,000 has a .7 month supply.  In the lower price point, inventory is low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church May 2019 Home Sales: 

• 164 homes went under contract in Falls Church. This is down 14.58% from the same time period in 2018.

• 50% of the homes that went to settlement May 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $638,398 (up from 16.57% from the same time period in 2018 when it was $547,637).

• 212 homes came on the market. That’s down 10.55% from May 2018.

• Homes that sold (closed) averaged 29 days on market, 23 days faster than in May of 2018.

• There is currently a 1.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 164 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church continues to be a Sellers Market.  One notable change from last month is the increase in average sold price (up over 8%).

When we segment this area by price points, there is a difference but overall still a Sellers Market.  The market above $800,000 has a 3 month supply of homes (very similar to last month), whereas below $800,000 has a .7 month supply.  In the lower price point, inventory is low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church April 2019 Home Sales:

• 194 homes went under contract in Falls Church. This is down only 0.98% from the same time period in 2018.

• 52% of the homes that went to settlement April 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $587,617 (up from 2.53% from the same time period in 2018 when it was $573,090).

• 235 homes came on the market. That’s up just .86% from April 2018.

• Homes that sold (closed) averaged 27 days on market, 18 days faster than in April of 2018.

• There is currently a 1.2 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 143 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church is definitely a Sellers Market.  When we segment this area by price points, there is a difference but overall still a Sellers Market.  The market above $800,000 has a 3.3 month supply of homes (very similar to last month), whereas below was in line with the overall numbers (just under 1).  In the lower price point, inventory is low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church March 2019 Home Sales:

• 167 homes went under contract in Falls Church. This is down only 0.6% from the same time period in 2018.

• 39% of the homes that went to settlement March 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $616,951 (up from last month & up 19.6% from the same time period in 2018 when it was $515,917)!

• 202 homes came on the market. That’s down 6.1% from March 2018.

• Homes that sold (closed) averaged 42 days on market, unchanged from last month and 11 days faster than in March of 2018.

• There is currently just over a 1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Falls Church – and 131 Falls Church homes for sale (townhouse, condo and single family).

OVERALL: Falls Church is definitely a Sellers Market.  

When we segment this area by price points, there is a difference but overall still a Sellers Market.  The market above $800,000 has a 3.9 month supply of homes (very similar to last month), whereas below was in line with the overall numbers (just under 1).  In the lower price point, inventory is low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church February 2019 Home Sales: 

Falls Church January 2019 Home Sales: