Falls Church, VA Real Estate Market Update – November 2009

The followings statistics for Falls Church, VA include both the City of Falls Church, and the part of Falls Church included in Fairfax County, VA.

Detached Homes

Average Net Sale Price: $494,356 after 48 days on the market
Range: $218,000 – $1,275,000

Townhome

Average Net Sale Price: $444,188 after 60 days on the market
Range: $120,000 – $967,000

1 Bedroom Condo

Average Net Sale Price: $172,405 after 86 days on the market

2 Bedroom, 1 Bath Condo

Average Net Sale Price: $170,401 after 52 days*
(there were several bank owns in this category, which brought the sales price down considerably)

2 Bedroom, 2 Bath Condo

Average Net Sale Price: $322,597 after 59 days on the market

Market Share Info

There were 19 short sales and 19 bank owned properties that sold in November – that’s 30% of the market in distress

Due to the high number of both short sales and foreclosures in Falls Church, the average sales price is still lower than this time in 2008. However the number of units sold is up, volume is up, and days on the market is down.