Falls Church December 2020 Homes Sales:

• 99 homes went under contract in Falls Church. This is up 94% from the same time period in 2019.

• 47% of the homes that went to settlement December 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $649,642 (down 0.7% from the same time period in 2019 when it was $654,378).

• 96 homes came on the market. That’s up 63% from December 2020.

• Homes that sold (closed) averaged 20 days on market, 11 days faster than in December of 2019.

• 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 126 Falls Church homes for sale (townhouse, condo and single-family).

Additional Year End Stats – 2019 vs 2020:

Average sold price increased by 6.2% ($613,702 vs $651,807)

Total units sold increased by 1.9%

Average sales price to original list price ratio increased – 99.3% vs 100.3%

OVERALL: Falls Church continues to be a Seller’s Market.  We saw activity in this market slow over the month, expected given the holiday season (although many numbers are still up from this time period last year), and low inventory remained to be an issue in Falls Church. 

When we segment this area by price points, there continues to be a slight difference but overall still a Seller’s Market.  The market above $800,000 has a 0.7 month supply of homes (down from 1.2 months in November), whereas below $800,000 has a 0.9 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 2020 Home Sales:

• 124 homes went under contract in Falls Church. This is up 53% from the same time period in 2019.

• 51% of the homes that went to settlement November 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $653,670 (up 7% from the same time period in 2019 when it was $613,020).

• 142 homes came on the market. That’s up 103% from November 2020.

• Homes that sold (closed) averaged 25 days on market, 8 days slower than in November of 2019.

• 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 162 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Seller’s Market.  November in this market was similar to October but the number of homes that came on the market and went under contract during the month increased significantly year-over-year.

When we segment this area by price points, there continues to be a slight difference but overall still a Seller’s Market.  The market above $800,000 has a 1.2 month supply of homes, whereas below $800,000 has a 0.9 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 2020 Home Sales:

• 121 homes went under contract in Falls Church. This is up 6% from the same time period in 2019.

• 67% of the homes that went to settlement October 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $607,980 (down just under 1% from the same time period in 2019 when it was $613,064).

• 132 homes came on the market. That’s up 2% from October 2020.

• Homes that sold (closed) averaged 16 days on market, 4 days faster than in October of 2019.

• There is currently a 0.9 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 109 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Seller’s Market.  This market slowed in October and experienced a significant decrease in the number of homes coming on the market from last month.  Inventory of homes remains an issue with the number decreasing 35% from last month.

When we segment this area by price points, there continues to be a slight difference but overall still a Seller’s Market.  The market above $800,000 has a 1.5 month supply of homes, whereas below $800,000 has a 1.1 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 September 2020 Home Sales:

• 152 homes went under contract in Falls Church. This is up 28% from the same time period in 2019.

• 63% of the homes that went to settlement September 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $622,154 (up 4% from the same time period in 2019 when it was $597,925).

• 223 homes came on the market. That’s up 49% from September 2020.

• Homes that sold (closed) averaged 14 days on market, 22 days faster than in September of 2019.

• 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 168 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  The September numbers in this market were again similar to the prior month but the number of homes that went under contract and came on the market is still significantly higher than this time last year.

When we segment this area by price points, there continues to be 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 1.0 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 2020 Home Sales:

• 163 homes went under contract in Falls Church. This is up 55% from the same time period in 2019.

• 66% of the homes that went to settlement August 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $622,050 (up 4.3% from the same time period in 2019 when it was $596,631).

• 199 homes came on the market. That’s up 56.7% from August 2020.

• Homes that sold (closed) averaged 14 days on market, 12 days faster than in August of 2019.

• 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 143 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  The August numbers in this market were similar to July but the number of homes that went under contract and came on the market is still significantly higher than this time last year.

When we segment this area by price points, there continues to be 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 1.1 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 2020 Home Sales:

• 162 homes went under contract in Falls Church. This is up 16% from the same time period in 2019.

• 67% of the homes that went to settlement July 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $709,204 (up 9% from the same time period in 2019 when it was $649,937).

• 231 homes came on the market. That’s up 83% from July 2020.

• Homes that sold (closed) averaged 17 days on market, same as in July of 2019.

• 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 150 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  One thing to note, the number of homes that came on the market in July was up from June and up significantly from July of 2019.

When we segment this area by price points, there continues to be a slight difference (and it continues to shrink) 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 0.8 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 2020 Home Sales:

• 156 homes went under contract in Falls Church. This is up 9.1% from the same time period in 2019.

• 60% of the homes that went to settlement June 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $665,030 (up 3.8% from the same time period in 2019 when it was $640,488).

• 179 homes came on the market. That’s up 10.5% from June 2020.

• Homes that sold (closed) averaged 17 days on market, 1 day faster than in June of 2019.

• 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 114 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  This market improved in June and is even stronger in regards to the number of homes coming on the market and going under contract than the same time period last year.  Inventory decreased, however, from last month and continues to remain low.

Falls Church May 2020 Home Sales:

• 132 homes went under contract in Falls Church. This is down 19.5% from the same time period in 2019.

• 64% of the homes that went to settlement May 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $731,282 (up 14.5% from the same time period in 2019 when it was $638,398).

• 154 homes came on the market. That’s down 27.4% from May 2020.

• Homes that sold (closed) averaged 15 days on market, 1 day faster than in May of 2019.

• 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 122 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  Compared to last month, the number of homes that went under contract and that came on the market increased.  And while these numbers are both down year over year as expected, the percentage decrease is not as significant as it was last month.  The Average Sold Price is up from last month and year over year and inventory remains low. 

When we segment this area by price points, there continues to be a difference but overall still a Sellers Market.  The market above $800,000 has a 2.7 month supply of homes, whereas below $800,000 has a 0.8 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 April 2020 Home Sales:

• 102 homes went under contract in Falls Church. This is down 47.4% from the same time period in 2019.

• 72% of the homes that went to settlement April 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $671,399 (up 14.3% from the same time period in 2019 when it was $587,617).

• 133 homes came on the market. That’s down 43.4% from April 2020.

• Homes that sold (closed) averaged 15 days on market, 12 days faster than in March of 2019.

• 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 115 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be a Sellers Market.  As with last month, the number of homes that went under contract and that came on the market year-over-year decreased significantly…expected given the current Coronavirus environment.  However, the homes that are listed are selling quickly vs this time 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 2.6 month supply of homes, whereas below $800,000 has a 0.7 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 March 2020 Home Sales:

• 134 homes went under contract in Falls Church. This is down 20% from the same time period in 2019.

• 73% of the homes that went to settlement March 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $637,776 (up 3.4% from the same time period in 2019 when it was $616,951).

• 115 homes came on the market. That’s down 12% from March 2020.

• Homes that sold (closed) averaged 15 days on market, 12 days faster than in March of 2019.

• 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 115 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be an aggressive Sellers Market.  As expected given the current Coronavirus pandemic, the number of homes that went under contract and came on the market were down 20% and 12% respectively from the same time period last year.  Compared to last month, the rest of the numbers are fairly similar and inventory remained low.

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 2.6 month supply of homes, whereas below $800,000 has a 0.8 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 February 2020 Home Sales:

• 125 homes went under contract in Falls Church. This is up 11.6% from the same time period in 2019.

• 74% of the homes that went to settlement in February 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $627,538 (up 15% from the same time period in 2019 when it was $546,080).

• 152 homes came on the market. That’s up 8.6% from February 2020.

• Homes that sold (closed) averaged 20 days on market, 8 days faster than in February of 2019.

• There is currently a 0.8 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 95 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continues to be an aggressive Sellers Market.  Activity picked up again during February…the number of homes that came on the market and went under contract increased and the total number of homes for sale went up.

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 2.7 month supply of homes, whereas below $800,000 has a 0.5 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 January 2020 Home Sales:

• 94 homes went under contract in Falls Church. This is down 8.7% from the same time period in 2019.

• 40% of the homes that went to settlement January 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $575,846 (up 11% from the same time period in 2019 when it was $520,329).

• 103 homes came on the market. That’s down 6.4% from January 2020.

• Homes that sold (closed) averaged 30 days on market, 16 days faster than in January of 2019.

• There is currently a 0.6 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 75 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 decrease.  There was an uptick in activity in this market during January…the number of homes that came on the market and went under contract increased (however these numbers are down from this same time period in 2019).

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 2.3 month supply of homes (up from 1.5 last month), whereas below $800,000 has a 0.5 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”.