Another strong month for Falls Church real estate! Continuing recent trends, prices are up, days on the market are down, and the percentage of the market that’s “distressed” (ie. a short sale or bank owned property) is down. All great news for property owners!
A total of 122 properties changed hands in April, of which 15 were bank owned and 17 were short sales, for a total of 26%. Last year, April saw 132 sales with 30.3% attributed to foreclosures/short sales.
Falls Church City saw a jump in median sale price by 9.4% and a decrease in days on the market by 73.2% (a jump from 71 to 19 days until a property went under contract). That’s HUGE.
Here’s how all of Falls Church shaped up by average net sale price and days on the market:
Single Family Home, Detached
$470,393 after 42 days
Range: $218,250 – $1,045,000
Townhouse
$488,792 after 31 days
$290,000 – $915,000
1 Bedroom Condo
$156,221 after 67 days
2 Bedroom Condo
$284,664 after 20 days
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