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Real Estate News in Falls Church - July 21st, 2016
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.
Please copy and paste link below in your browser to see detailed report for Falls Church City.
http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51610&time_period=201606

News for Falls Church, VA - October 15th, 2015 12:36pm
09/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System
Falls Church City: average detached = single family home sold price: $ 976,879 = +15.69 % increase YOY = year over year.
Falls Church City: average attached home = town home sold price: $ 503,600 = -1.44 % decrease YOY.
Falls Church City average condo sold price: $ 485,000 = +28.83 % increase YOY.
Days on Market: 69 vs. 40 a year ago = 72.50 % increase YOY.
Average Sold Price to Original List Price: 96.8 % vs. 98.1 % a year ago = -1.35 % decrease YOY.
Most homes sold in 31 - 60 days on market.
0 cash buyers, 17 conventional loans, 0 FHA loans, 0 VA loans.
Inventory: 35 active listings vs. 38 a year ago = -7.89 % decrease.
Pendings = Properties Under Contract: 16 vs. 20 = -20 % decrease.

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.

http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51610&time_period=201509

News for Falls Church, VA - March 20th, 2015 4:13pm
02/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System

Falls Church City: average detached = single family home sold price: $ 886,278= 7.64 % increase YOY = year over year.
Falls Church City: average attached home = town home sold price: $ 565,167 = 24.34 % increase YOY.
Falls Church City average condo 2/2015 sold price: $ 426,500 = 4.91 % increase.
Days on Market: 71 vs. 63 a year ago = 12.70 % increase
Average Sold Price to Original List Price: 95.6 % vs. 96.3 % a year ago = 0.69 % decrease
Most homes sold in less than 2-3 month on market.
2 cash buyers, 9 conventional loans, 0 FHA loans, 0 VA loans
Inventory: 22 active listings vs. 24 a year ago = 8.33 % decrease
Pendings = Properties Under Contract: 21 vs. 14 = 50 % increase

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. Please copy and paste link below in your browser to see detailed report for Falls Church City, prepared 10/2014. Falls Church City zip codes: ~~22042,22044 and 22046

http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51610&time_period=201502

News for Falls Church, VA - October 27th, 2014 9:15am
Falls Church City: average detached = single family home sold price: $ 844.393 = 11.81 % increase YOY = year over year. Falls Church City: average attached home = town home sold price: $ 510.983 = 5.20 % decrease YOY. Falls Church City average condo sold price: $ 376,475 = 12.95 % decrease YOY. 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. Please copy and paste link below in your browser to see detailed report for Falls Church City, prepared 10/2014. Falls Church City zip codes: ~~22042,22044 and 22046


http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51610&time_period=201409
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

...Read Full Article
Fall 2018 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.
http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51610&time_period=201606 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�

Contact Information
Martina Burns RE/MAX
703-650-8533
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30 year fixed rate: 4.04%
15 year fixed rate: 3.40%
30 year jumbo rate: 4.26%
15 year jumbo rate: 4.32%
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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
703-650-8533
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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