Home > Falls Church Real Estate Market
Winter 2020 Market Update
If you can qualify for a mortgage, now is a great time to buy a home in Falls Church. Interest rates are still low which makes a home purchase a great opportunity especially when considering the tax advantage a home owner might have. Interest rates are supposed to rise in 2016. Financing is still tight, best rates are available with a credit score of 740+. Why rent when you can buy for similar monthly payments? Call the local real estate expert Martina Burns now for more information at 703-650-8533 or toll free at 866-361-6655
Average Sold Home Price: $1,100,000

Average Time on Market: 60-90 days

Best Selling Price Range: $1,000,000+

Existing Home Prices for the past 90 days: Increasing

Market Trend: Increasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

Multiple Offers Commentary: Homes are selling fast in prime locations but only for up-dated, mint, move-in condition homes, close to public transportation. Those homes are selling in < 10 days on market.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Housing Inventory Comments: 06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System.
Falls Church City: average detached = single family home sold price: $ 984,333 = +19.81 % increase YOY = year over year.
Falls Church City: average attached home = town home sold price: $ 597,909 = +29.24 % increase YOY.
Falls Church City average condo sold price: $ 574,313 = +46.11 % increase YOY.
Average Days on Market: 17 vs. 44 a year ago = -61.36 % decrease YOY.
Average Sold Price to Original List Price: 98.6 % vs. 99 % a year ago = -0.36 % decrease YOY.
Most homes sold in <14 days on market.
3 cash buyers, 19 conventional loans, 2 FHA loans, 1 VA loans.
Inventory: 34 active listings vs. 37 a year ago = -8.11 % decrease.
Pendings = Properties Under Contract: 30 vs. 30 = -20 % no change
The MLS code for Falls Church City starts with FA. Also know, there is Falls Church in Fairfax County, which has lots of different zip codes and each zip code has very different sales numbers. The MLS code starts with FX. Contact me for detailed info for YOUR preferred zip code. Falls Church City zip codes: ~~22042,22044 and 22046
Please copy and paste link below in your browser to see detailed report for Falls Church City. The $$ below are only for Falls Church City detached = single family homes, 4 bed rooms or more.

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Washington DC

Housing Hot Spots: Everything inside the Beltway or within 5 miles just outside and close to Metro or VRE! Most cities within the Fairfax County area are considered �Housing Hotspots�

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Martina Burns RE/MAX
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Mortgage Rates for Feb 23rd, 2020
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
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Real Estate Professional, Martina Burns  RE/MAX Martina Burns RE/MAX
RE/MAX Allegiance
Specializing in Falls Church Real Estate
6084-A Franconia Road
Alexandria, Virginia 22310
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Martina Burns RE/MAX for current Falls Church, VA market conditions before acting on this information.)
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