Falls Church Weekly Market Update: March 2, 2012

March 2, 2012 by · Leave a Comment 

Welcome to the latest installment of the Falls Church Real Estate Update. The data for this post was compiled using the statistics for both the City of Falls Church and those parts of Falls Church that lie outside of the city’s limits in Fairfax County.

March is upon us, and it feels like Spring is just around the corner. Inventory is down nearly 25% from this time last year, while the average sales price is up nearly two percent. Below are the latest numbers for this week.

Falls Church Contracts

  • In the past week, 39 homes went under contract.
  • 85% of those homes were listed for less than $500,000.
  • Two of the homes that went under contract this week were listed for more than $1,000,000.

Falls Church Inventory

  • Active single family home listings: 109
  • Active townhouse listings: 23
  • Active condo listings: 56

Listings Sold & Average Days on Market in Falls Church and Falls Church City

In the past week, 31 homes changed hands in Falls Church. Four were in Falls Church City, while the remaining 27 were outside of the city limits. The average sales price for all of the homes sold this week was $454,724.

The homes in the City of Falls Church sat on the market for an average of 40 days before going to settlement, while the homes outside the city’s limits sat on the market for 71 days on average.

If you’d like more information or if you have any questions, please contact us. And if you’re thinking of selling (or are just curious), we’d be happy to provide you with a free market analysis of your home’s value.

Source: MRIS as of 3/1/2012.  All information deemed reliable but not guaranteed.

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