Great Falls, Virginia Real Estate Market Analysis for November 2018
The average sold price for Great Falls homes in November 2018 continued to increase by 5.6% compared to October 2018. This price increase to $1.2 mil makes now a good time for older homeowners to sell and downsize to a smaller house.
A 5 to 7 month housing supply is considered a normal market. A housing supply under 5 months is considered a seller’s market. A housing supply over 7 months is considered a buyer’s market. The 6.4 month housing supply in November which decreased .5% since October means the market is still in the normal range.
The Federal Reserve did not raise interest rates in November. It is anticipated that they will raise rates in the future. Now is the time to buy before interest rates and monthly mortgage payments increase.
Quick Stats for 22066
November 2018 Properties Sold in Great Falls, Virginia
|$1,100,000||1106 Dapple Grey Court||6||5 / 1|
|$1,120,000||9509 Brian Jac Lane||6||4 / 1|
|$1,150,000||12031 Thomas Avenue||4||4 / 1|
|$1,200,000||9602 Tackroom Lane||5||4 / 2|
|$1,367,500||811 Gouldman Lane||6||5 / 1|
|$1,550,000||10859 Patowmack Drive||5||4 / 2|
|$1,700,000||148 River Park Lane||5||6 / 1|
|$1,850,000||55 Warwick Stone Way||5||7 / 2|
|$1,980,000||614 Kentland Drive||5||6 / 2|
|$674,900||1009 Cup Leaf Holly Court||5||3 / 1|
|$810,000||10626 Beach Mill Road||5||4 / 0|
|$825,000||11697 Hollyview Drive||4||3 / 1|
|$885,000||10807 Piney Pond Drive||3||4 / 1|
|$950,000||511 Utterback Store Road||4||1 / 1|