Is Falls Church, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Falls Church is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Falls Church has remained a Seller's Market.

Key Takeaway

Falls Church is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Falls Church, VA

How much do homes in Falls Church, VA cost?

Median Sold Price

$752,941

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$52,674(+7.5%)

Key Takeaway

Homes in Falls Church have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Falls Church was $752,941 in November 2024, up 7.5% from last year, and the median price per square foot was $382.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $242K$269K
+11.2%
2 $352.5K$399K
+13.2%
3 $710.2K$760K
+7.0%
4 $865K$975K
+12.7%
5+ $1.4M$1.5M
+10.7%

Summary: Falls Church housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 10.7%.

Median Sold Price Compared To Nearby Cities

Falls Church
+7.5%
Mason
+7.5%
Falls Church
+5.8%
Mc Lean
+5.2%
Providence
+4.6%

Housing Supply in Falls Church, VA

How many homes are available in Falls Church, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
303280-7.6%

Summary: The Falls Church real estate market had 280 homes for sale in November 2024, a 7.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4935
-28.6%
2 6672
+9.1%
3 6555
-15.4%
4 5246
-11.5%
5+ 7172
+1.4%

Summary: The Falls Church housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes increased by 1.4%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
9984-15.2%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Falls Church, you may be able to get a good deal. 44% of homes here sold below asking price last month.

Summary: A total of 84 homes were sold or pending in Falls Church in November 2024, down by 15.2% month-over-month. Of the 84 sold homes, 44% were sold under asking, 17% were sold at asking, and 39% were sold over asking.

Days on Market for Falls Church, VA

How long does it take to sell a home in Falls Church, VA?

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days24 Days+51.5%

Summary: Homes in Falls Church had an average of 24 days on market in Nov 2024, up by 51.5% compared to last year.

Breakdown of Home Sale Times

63 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Falls Church are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 84 homes were sold in Falls Church; 75% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Falls Church, VA

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