Falls Church Real Estate Market Update: April 2013

April 5, 2013 by · Leave a Comment 

Welcome to the latest installment of the Falls Church Real Estate Update. Data for the update were 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.

Falls Church Contracts

In March, 128 homes went under contract in Falls Church.  That’s a 24% increase from the previous month!  Now that spring’s here, more and more buyers are really on the hunt, so take advantage of this and put your home on the market now if possible!

Falls Church Inventory

Currently, there are 98 active listings for single-family homes in Falls Church, a 17% gain from February. The number of townhouses available is down one, from 12 in February to 11 in March. The number of condos available in March increased from 38 to 42. We are continuing to notice the trend of multiple offers and some homes selling for over list price and buyers waiving contingencies.

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

A total of 120 homes were sold in Falls Church in March, up a whopping 45% from the previous month’s count of 83!  Sixteen of the homes sold in March were in Falls Church City, while the remaining 104 were outside of the city limits. The average sales price for all of the homes sold in March is $464,506, up $8,719 from February. Prices in the region remain strong, so if you’re ready to buy, start looking now! Economists continue to predict home prices will continue to post gains in our area.

The homes in Falls Church City sat on the market for an average of 41 days–a 38% decrease!  Homes outside the city limits sat on the market for 36 days on average, which is a decline from February’s total of 45 days. It’s expected that the average days on market for homes in Falls Church will continue to drop over the next few months.  Homes in this area are increasingly in demand!

That’s it for this month’s Falls Church Real Estate Update. Be sure to tune in next month!

Source: MRIS as of 04/05/2013.  All information deemed reliable but not guaranteed.

 

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