Is Falmouth, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Falmouth is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Falmouth, VA

How much do homes in Falmouth, VA cost?

Median Sold Price

$440,000

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,750(+4.7%)

Key Takeaway

Homes in Falmouth have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Falmouth was $440,000 in October 2024, up 4.7% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $312K$245K
-21.5%
2 $329.9K$339.9K
+3.0%
3 $360K$395K
+9.7%
4 $485K$509.6K
+5.1%
5+ $590K$575K
-2.5%

Summary: Falmouth housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.5%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 2.5%.

Median Sold Price Compared To Nearby Cities

Aquia
+5.8%
Falmouth
+4.7%
Hartwood
+4.6%
Fredericksburg
+2.4%
George Washington
-3.0%

Housing Supply in Falmouth, VA

How many homes are available in Falmouth, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
90109+21.1%

Summary: The Falmouth real estate market had 109 homes for sale in October 2024, a 21.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1118
+63.6%
3 3241
+28.1%
4 3638
+5.6%
5+ 1112
+9.1%

Summary: The Falmouth housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 63.6%, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1725+47.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 25 homes were sold or pending in Falmouth in October 2024, up by 47.1% month-over-month. Of the 25 sold homes, 44% were sold under asking, 28% were sold at asking, and 28% were sold over asking.

Days on Market for Falmouth, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
23 Days24 Days+3.1%

Summary: Homes in Falmouth had an average of 24 days on market in Oct 2024, up by 3.1% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 25 homes were sold in Falmouth; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

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MLS Disclaimers and Copyright

Based on information from BrightMLS, and Central Virginia Regional MLS for the period 11/01/2022 - 11/01/2024

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 2:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 2:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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