May 2009 Real Estate Market Update – Falls Church, VA

Here are some statistics about the real estate market for May in Falls Church (both the city of and the part in Fairfax County). Falls Church was hit pretty badly by foreclosures these past few months. While they seem to be selling through inventory – there were 117 sales in May – it seems prices are still low, and a great opportunity for investing.

Single Family Homes

Average Sale Price: $483,000
Average Days on the Market: 67

Sales ranged from $200k to $1.355M

Townhouses

Average Sale Price: $478,000
Average Days on the Market: 84

Sales ranged from $115k to $750k

Condos

1 Bedroom, 1 Bath

Average Sale Price: $145,000
Average Days on the Market: 117

Sales ranged from $68k to $250k

2 Bedroom (or 1 bedroom with den), 1 Bath

Average Sale Price: $163,000
Average Days on the Market: 128

Sales ranged from $90k to $263k

2 Bedroom, 2 Bath

Average Sale Price: $273,000
Average Days on the Market: 80

Sales ranged from $210k to $534k

If you’re interested in more details, please contact me!