Falls Church Real Estate Sales Prices Up Again
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
$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