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| AUGUST 2024 | |||
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| Units Sold 13 |
Active Inventory 37 |
Median Sale Price $1,150,000 |
Days On Market 50 |
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| Down -7% Vs. Year Ago |
Up 106% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 13 sold this month in Falls Church City Real Estate versus 15 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 7% versus August 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 19 units or 106%. The total number of active inventory this August was 37 compared to 18 in August 2023. This month's total of 37 is lower than the previous month's total supply of available inventory of 38, a decrease of 3%. |
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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 August, the median sale price for Falls Church City Homes was $832,500. This August, the median sale price was $1,150,000, an increase of $317,500 compared to last year. The current median sold price is higher than in July. 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 11 |
Current Contracts 9 |
Sold Vs. List Price 101.3% |
Months of Supply 2.8 |
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| Down -39% Vs. Year Ago |
Down -36% Vs. Year Ago |
Up 1.8% Vs. Year Ago |
Up 121% Vs. Year Ago |
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Months of Supply
In August, there was 2.8 months of supply available in Falls Church City, compared to 1.3 in August 2023. That is an increase of 121% 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 11 homes newly listed for sale in Falls Church City compared to 18 in August 2023, a decrease of 39%. There were 9 current contracts pending sale this August compared to 14 a year ago. The number of current contracts is 36% lower than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Falls Church City was 101.3% of the average list price, which is 1.8% higher than at this time last year. Days on Market
This month, the average number of days on market was 50, higher than the average last year, which was 17. This increase was impacted by the limited number of sales. | |||
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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. | |||
 Information included in this report is based on data supplied by BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc. |
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