The Long & Foster Market Minute
Focus On: Falls Church City Housing Market May 2017
Units Sold
30
Active Inventory
44
Median Sale Price
$827,005
Days On Market
36
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -4%
Vs. Year Ago
Up
Vs. Year Ago
Up 3%
Vs. Year Ago
Units Sold
With relatively few transactions, there was an increase in total units sold in May, with 30 sold this month in Falls Church City Real Estate. This month's total units sold was higher than at this time last year, an increase from May 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 4%. The total number of active inventory this May was 44 compared to 46 in May 2016. This month's total of 44 is higher than the previous month's total supply of available inventory of 41, an increase of 7%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Falls Church City Homes was $625,000. This May, the median sale price was $827,005, an increase of $202,005 compared to last year. The current median sold price is higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
37
Current Contracts
30
Sold Vs. List Price
99.9%
Months of Supply
1.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 28%
Vs. Year Ago
Up 36%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -33%
Vs. Year Ago
Months of Supply
In May, there was 1.5 months of supply available in Falls Church City, compared to 2.2 in May 2016. That is a decrease of 33% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 37 homes newly listed for sale in Falls Church City compared to 29 in May 2016, an increase of 28%. There were 30 current contracts pending sale this May compared to 22 a year ago. The number of current contracts is 36% higher than last May.

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Sale Price to List Price Ratio
In May, the average sale price in Falls Church City was 99.9% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 36, higher than the average last year, which was 35, an increase of 3%.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.