Falls Church July 2021 Home Sales:

• 144 homes went under contract in Falls Church. This is down 11% from the same time period in 2020.

• 59% of the homes that went to settlement July 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $721,301 (up 2% from the same time period in 2020 when it was $709,204).

• 185 homes came on the market. That’s down 20% from July 2020.

• Homes that sold (closed) averaged 16 days on market, 1 day faster than in July of 2020.

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

OVERALL: Falls Church continued to be a Seller’s Market.  We saw a bit of a slowing of the market in this area during July as well as year-over-year.  That said, the average sold price continued to increase. 

When we segment this area by price points, it’s still a Seller’s Market across the board.  The market above $800,000 has a 1.0 month supply of homes, and the price point below $800,000 has a 1.3 month supply. 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 June 2021 Home Sales:

• 189 homes went under contract in Falls Church. This is up 21% from the same time period in 2020.

• 64% of the homes that went to settlement June 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $706,243 (up 6% from the same time period in 2020 when it was $665,030).

• 269 homes came on the market. That’s up 50% from June 2020.

• Homes that sold (closed) averaged 16 days on market, 1 day faster than in June of 2020.

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

OVERALL: Falls Church continued to be a Seller’s Market.  As with last month, we didn’t see a significant change in the monthly numbers from May to June.  The number of homes that went under contract and that came on the market are again both up double digit percentage year-over-year and the average sold price has increased from June 2020.  Inventory rose slightly during June.

When we segment this area by price points, it’s still a Seller’s Market across the board.  The market above $800,000 has a 1.0 month supply of homes, and the price point below $800,000 has a 1.3 month supply. 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 2021 Home Sales:

• 194 homes went under contract in Falls Church. This is up 47% from the same time period in 2020.

• 75% of the homes that went to settlement May 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $727,213 (down 0.6% from the same time period in 2020 when it was $731,282).

• 228 homes came on the market. That’s up 48% from May 2020.

• Homes that sold (closed) averaged 14 days on market, 1 day faster than in May of 2020.

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

OVERALL: Falls Church continued to be a Seller’s Market.  We didn’t see a significant change in the numbers from April to May in Falls Church, but activity and average sold price were up double digits compared to this time last year (again, expected due to the pandemic).  And...low inventory remained an issue.

When we segment this area by price points, it’s still a Seller’s Market across the board.  The market above $800,000 has a 1.2 month supply of homes, and the price point below $800,000 has a 1.4 month supply. Inventory is low and if the home is priced right it will sell fast and sellers are finding themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church April 2021 Homes Sales:

• 177 homes went under contract in Falls Church. This is up 74% from the same time period in 2020.

• 68% of the homes that went to settlement April 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $730,946 (up 9% from the same time period in 2020 when it was $671,399).

• 243 homes came on the market. That’s up 83% from April 2020.

• Homes that sold (closed) averaged 15 days on market, 1 day slower than in April of 2020.

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

OVERALL: Falls Church continued to be a Seller’s Market.  The number of homes that came on the market and went under contract were up significantly year-over-year (not surprising given the pandemic situation) and the average sold price continued to increase.  Inventory increased in April but continues to be a challenge for buyers.

Falls Church March 2021 Homes Sales:

• 179 homes went under contract in Falls Church. This is up 34% from the same time period in 2020.

• 59% of the homes that went to settlement March 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $642,410 (up 0.7% from the same time period in 2020 when it was $637,776).

• 189 homes came on the market. That’s up 6% from March 2020.

• Homes that sold (closed) averaged 19 days on market, 4 days slower than in March of 2020.

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

OVERALL: Falls Church continued to be a Seller’s Market.  The number of homes that came on the market and went under contract were up from February, however, overall inventory was down slightly and remained an issue for buyers.  The average sales price ticked up a bit from February and was up slightly year-over-year.

When we segment this area by price points, it’s still a Seller’s Market across the board.  The market above $800,000 has a 0.9 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 are finding themselves in a multiple offer situation if they are priced “competitively”. 

Falls Church February 2021 Homes Sales:

• 112 homes went under contract in Falls Church. This is down 10% from the same time period in 2020.

• 53% of the homes that went to settlement February 2021, sold in 10 days or less from when they hit the market. 

• Average sold price was $618,393 (down 1.5% from the same time period in 2020 when it was $627,538).

• 124 homes came on the market. That’s down 18% from February 2020.

• Homes that sold (closed) averaged 28 days on market, 8 days slower than in February of 2020.

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

OVERALL: Falls Church continues to be a Seller’s Market.  Market activity in the area was down from January as well as year-over-year.  Average sold prices were also down from last year and low inventory remains to be a big issue.

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 0.8 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 January 2021 Homes Sales:

• 124 homes went under contract in Falls Church. This is up 32% from the same time period in 2020.

• 45% of the homes that went to settlement January 2021, sold in 10 days or less from when they hit the market.

• Average sold price was $609,706 (up 6% from the same time period in 2020 when it was $575,846).

• 140 homes came on the market. That’s up 36% from January 2020.

• Homes that sold (closed) averaged 25 days on market, 5 days faster than in January of 2020.

• 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.  Market activity in this area was up from December and up significantly with the same period in 2020.  Average sold prices were down from December but up slightly from January of last year.  Low inventory remains to be an issue. 

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, 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”.