Falls Church, VA Market Report – 6/3/13

03 Jun
June 3, 2013

Falls Church is an area that comprises about 5 different zip codes as well as an the incorporated city of Falls Church. For this market update, we will be focusing on the 22043 zip code. The zip code emcompasses homes in a large price range. You can get a one bedroom condo starting around $200,000, and the range goes as high as a single family, 6,000 square foot home for $2 million. You are close to the major commuter routes of I-66, Rt. 50, and I-495, as well as 3 metro stations. 22043 covers the two well known high schools of Marshall and Mclean.  

It’s no wonder days on market for a home in Falls Church has decreased by 14.81%. The average sales price for a detached home in April was $749,550, an increase of 13.8% just from last year! There were 35 active listings in April which was also down from April 2012 by 38.6% and half of them went under contract. Of the homes that sold, strong buyers where snatching them with conventional financing and CASH.

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$19,451,900

+8.58%

+74.89%

Closed Sales

33

-2.94%

+83.33%

Median Sold Price

$495,000

-1.98%

-10.41%

Avg Sold Price

$589,452

+11.87%

-4.61%

Avg Days on Market

46 days

-14.81%

+31.43%

Avg Sold to Orig List Ratio

98.54%

+1.79%

-0.85%

The interest rates have already started to creep up just a bit from last month. With the Grantors increasing for sellers beginning July 1 from $1 dollar per 1,000 to $2.50 per thousand, my suggestion is to get that home on the market now before you miss your opportunity for more money in your pocket.

Get a hold of one of our very experienced Avery –Hess agents and we will be happy to put the wheels in motion for you.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Chris Brown, Sales Manager at the Avery Hess, Realtors Tysons Office.

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

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