The Long & Foster Market Minute

Focus On: Falls Church City Housing Market September 2021

Units Sold
21
Active Inventory
21
Median Sale Price
$795,000
Days On Market
31
Up 31%
Vs. Year Ago
Up 5%
Vs. Year Ago
No Change
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 21 sold this month in Falls Church City Real Estate versus 17 last month, an increase of 24%. This month's total units sold was higher than at this time last year, an increase of 31% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 5%. The total number of active inventory this September was 21 compared to 20 in September 2020. This month's total of 21 is lower than the previous month's total supply of available inventory of 26, a decrease of 19%.

Median Sale Price
Last September, the median sale price for Falls Church City Homes was $795,500. This September, the median sale price was $795,000, which is similar compared to a year ago. The current median sold price is 5% lower than in August.

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


New Listings
20
Current Contracts
18
Sold Vs. List Price
100.0%
Months of Supply
1.0
Down -33%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In September, there was 1.0 months of supply available in Falls Church City, compared to 1.3 in September 2020. That is a decrease of 20% 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.

New Listings & Current Contracts
This month there were 20 homes newly listed for sale in Falls Church City compared to 30 in September 2020, a decrease of 33%. There were 18 current contracts pending sale this September compared to 17 a year ago. The number of current contracts remained stable as compared to last September.

Sale Price to List Price Ratio
In September, the average sale price in Falls Church City was 100.0% of the average list price, which is 1.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 31, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute
*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 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.