Falls Church December 2023 Home Sales:

• 52 homes went under contract in Falls Church. This is down 16% from the same time period in 2022.

• 54% of the homes that went to settlement December 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $921,563 (up 28% from the same time period in 2022 when it was $719,953).

• 46 homes came on the market. That’s down 2% from December 2022.

• Homes that sold (closed) averaged 24 days on market, 15 days faster than in December 2022.

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

Additional Year-End Stats – 2023 vs 2022:

Average sold price increased by 7.3% ($763,241 vs $711,319)

Total units sold decreased by 19%

Average sales price to original list price ratio increased – 100.6% vs 100.4%

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month and was down 7.5% year-over-year.  The number of homes going under contract and the number coming on the market decreased from last month and remain down from year-end 2022.  Average sold price was up from November and up double digits from the same time last 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 1.2 month supply of homes, and the price point below $800,000 has a 0.6 month supply. 

Falls Church November 2023 Home Sales:

• 61 homes went under contract in Falls Church. This is down 9% from the same time period in 2022.

• 53% of the homes that went to settlement November 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $703,780 (up 0.7% from the same time period in 2022 when it was $698,970).

• 67 homes came on the market. That’s down 30% from November 2022.

• Homes that sold (closed) averaged 16 days on market, 8 days faster than in November 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month and was down 21% year-over-year.  The number of homes going under contract and the number coming on the market decreased from last month and remain down from last November.  Average sold price was down from October and was virtually unchanged from the same time last 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 1.2 month supply of homes, and the price point below $800,000 has a 0.8 month supply. 

Falls Church October 2023 Home Sales:

• 97 homes went under contract in Falls Church. This is up 20% from the same time period in 2022.

• 51% of the homes that went to settlement October 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $720,511 (up 2% from the same time period in 2022 when it was $705,643).

• 87 homes came on the market. That’s down 2% from October 2022.

• Homes that sold (closed) averaged 19 days on market, 5 days faster than in October 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month and was down 15% year-over-year.  The number of homes going under contract increased but the number coming on the market decreased from last month.  Average sold price was up from September and compared to the same time last 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 1.7 month supply of homes, and the price point below $800,000 has a 0.7 month supply. 

Falls Church September/Q3 2023 Home Sales:

• 82 homes went under contract in Falls Church. This is down 13% from the same time period in 2022.

• 57% of the homes that went to settlement September 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $608,180 (down 18% from the same time period in 2022 when it was $741,901).

• 97 homes came on the market. That’s down 37% from September 2022.

• Homes that sold (closed) averaged 14 days on market, 7 days faster than in September 2022.

• There is currently a 1.5 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 136 Falls Church homes for sale (townhouse, condo and single-family).

Additional 3rd Quarter-End Stats – 2023 vs 2022:

Average sold price increased by 0.4% ($726,040 vs $723,156)

Total units sold decreased by 13%

Average sales price to original list price ratio increased – 100.0% vs 98.8%

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased just slightly from the prior month but was down 20% year-over-year.  The number of homes going under contract and coming on the market decreased from last month and remains down from the same time last year.  Average sold price was down from August and compared to the same time last 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 1.6 month supply of homes, and the price point below $800,000 has a 0.8 month supply. 

Falls Church August 2023 Home Sales:

• 114 homes went under contract in Falls Church. This is down 8% from the same time period in 2022.

• 58% of the homes that went to settlement August 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $785,901 (up 14% from the same time period in 2022 when it was $689,539).

• 135 homes came on the market. That’s up 3% from August 2022.

• Homes that sold (closed) averaged 15 days on market, 2 days faster than in August 2022.

• There is currently a 1.5 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 133 Falls Church homes for sale (townhouse, condo and single-family).

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased from the prior month but was down 10% year-over-year.  The number of homes going under contract and coming on the market increased from last month.  Average sold price was up slightly from July and up compared to the same time last year.

Falls Church July 2023 Home Sales:

• 102 homes went under contract in Falls Church. This is down 10% from the same time period in 2022.

• 57% of the homes that went to settlement July 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $776,305 (up 7% from the same time period in 2022 when it was $725,292).

• 117 homes came on the market. That’s down 25% from July 2022.

• Homes that sold (closed) averaged 16 days on market, 2 days slower than in July 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month and  was down 28% year-over-year.  The number of homes going under contract increased slightly but the number coming on the market was down from last month.  Both of these numbers continue to be down from this time last year.  Average sold price was up slightly from June and up compared to the same time last 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 1.7 month supply of homes, and the price point below $800,000 has a 0.7 month supply. 

Falls Church June/Q2 2023 Home Sales:

• 99 homes went under contract in Falls Church. This is down 5.7% from the same time period in 2022.

• 77% of the homes that went to settlement June 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $774,222 (up 3.8% from the same time period in 2022 when it was $745,791).

• 128 homes came on the market. That’s down 37% from June 2022.

• Homes that sold (closed) averaged 10 days on market, 5 days faster than in June 2022.

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

Additional 2nd Quarter-End Stats – 2023 vs 2022:

Average sold price increased by 11% ($818,897 vs $738,524)

Total units sold decreased by 22%

Average sales price to original list price ratio decreased – 102.4% vs 103.1%

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased from the prior month but  was down 24% year-over-year.  The number of homes going under contract and coming on the market were down from last month.  Both of these numbers continue to be down from this time last year.  Average sold price was down from May but was up compared to the same time last 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 2.2 month supply of homes, and the price point below $800,000 has a 0.7 month supply. 

Falls Church May 2023 Home Sales:

• 124 homes went under contract in Falls Church. This is down 17% from the same time period in 2022.

• 66% of the homes that went to settlement May 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $897,775 (up 16% from the same time period in 2022 when it was $775,994).

• 137 homes came on the market. That’s down 23% from May 2022.

• Homes that sold (closed) averaged 20 days on market, 7 days slower than in May 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased from the prior month and was up 3.7% year-over-year.  The number of homes going under contract and coming on the market were up from last month, but both of these numbers continue to be down from this time last year.  Average sold price was up from April as well as compared to the same time last year.

Falls Church April 2023 Home Sales:

• 113 homes went under contract in Falls Church. This is down 20% from the same time period in 2022.

• 76% of the homes that went to settlement April 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $782,627 (up 12% from the same time period in 2022 when it was $696,695).

• 108 homes came on the market. That’s down 43% from April 2022.

• Homes that sold (closed) averaged 16 days on market, 1 day faster than in April 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased from the prior month but was down 8% year-over-year.  The number of homes going under contract and coming on the market were up slightly and unchanged respectively.  Both of these numbers continue to be down significantly from this time last year.  Average sold price was down from March but up compared to the same time last 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 2.2 month supply of homes, and the price point below $800,000 has a 0.5 month supply. 

Falls Church March/Q1 2023 Home Sales:

• 105 homes went under contract in Falls Church. This is down 30% from the same time period in 2022.

• 55% of the homes that went to settlement March 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $842,397 (up 15% from the same time period in 2022 when it was $730,220).

• 109 homes came on the market. That’s down 38% from March 2022.

• Homes that sold (closed) averaged 24 days on market, the same as in March 2022.

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

Additional 1st Quarter-End Stats – 2022 vs 2023:

Average sold price increased by 11% ($648,134 vs $720,328)

Total units sold decreased by 33%

Average sales price to original list price ratio decreased – 100.9% vs 99.8%

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month but was up 19% year-over-year.  The number of homes going under contract and coming on the market also increased, but both of these numbers continue to be down significantly from this time last year.  Average sold price was up from February and up compared to the end of the first quarter last year.

Falls Church February 2023 Home Sales:

• 73 homes went under contract in Falls Church. This is down 41% from the same time period in 2022.

• 47% of the homes that went to settlement February 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $614,202 (up 6% from the same time period in 2022 when it was $579,588).

• 80 homes came on the market. That’s down 44% from February 2022.

• Homes that sold (closed) averaged 24 days on market, 8 days faster than in February 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory increased from the prior month and was up 32% year-over-year.  The number of homes going under contract and the number coming on the market were both down and continued to be down significantly from this time last year.  Average sold price was down from January but up compared to the end of February last 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 1.7 month supply of homes, and the price point below $800,000 has a 0.8 month supply. 

Falls Church January 2023 Home Sales:

• 85 homes went under contract in Falls Church. This is down 11% from the same time period in 2022.

• 43% of the homes that went to settlement January 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $670,875 (up 14% from the same time period in 2022 when it was $591,021).

• 82 homes came on the market. That’s up 3.8% from January 2022.

• Homes that sold (closed) averaged 28 days on market, 14 days faster than in January 2022.

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

OVERALL: Falls Church continued to be a Seller’s Market.   Inventory decreased from the prior month but was up 45% year-over-year.  The number of homes going under contract and the number coming on the market increased but the number of homes under contract continues to be down from this time last year.  Average sold price was down from December but up compared to the end of January last 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 1.8 month supply of homes, and the price point below $800,000 has a 0.5 month supply.