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Great Falls, Virginia Real Estate Market Analysis for September 2018

Good news for Great Falls home buyers! The September 2018 average sold price was 3.7% lower than the previous month and the average sales price was under $1 million.

This price decrease can make living in Great Falls, VA more affordable than ever for buyers who want upscale neighborhoods with highly rated schools.

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. Great Falls’ 7.4 month housing supply in September, which increased since August, makes the market better for buyers to negotiate better terms and purchase prices.

The Federal Reserve also increased rates three times this year… and it is anticipated that they will continue to increase rates. So, now is the time to buy before interest rates and monthly mortgage payments go up again.

Quick Stats for 22066

155
Homes For Sale
12
Homes Sold / Settled
$1,020,642
Avg. Sold Price
57
Avg. Days on Market
7.4
Months Supply
13
Pending Contracts

September 2018 Properties Sold in Great Falls, Virginia

Price Address Bedrooms Full Baths Half Baths
$1,995,000 633 Utterback Store Rd 5 4 3
$1,499,000 10970 Woodland Falls Dr 5 4 3
$1,395,000 10924 Shallow Creek Dr 4 4 3
$1,250,000 1104 Hobnail Ct 7 5 3
$1,075,000 9299 Ivy Tree Ln 3 3 3
$949,999 10304 Shesue St 4 3 3
$899,999 414 Ole Dirt Rd 4 4 3
$719,917 12127 Holly Knoll Cir 4 3 3
$689,000 11921 Fallen Holly Ct 4 2 3
$665,000 9508 Watts Rd 4 2 2
$589,900 20053 Great Falls Forest Dr 4 2 3
$519,900 10157 Yorktown Way 4 3 3

Source: MRIS Listings