UrbanTurf continues its annual look at the neighborhood housing markets around the DC region as we head over to Great Falls in Virginia.
Great Falls is one of the most expensive housing markets in the DC region and it is almost exclusively a place for one property type: large single-family homes with at least four bedrooms. Nine out of ten homes sold in Great Falls in 2021 fell into this category. Despite the fact that the median home price for the neighborhood is approaching $1.5 million, the 200 homes that sold so far this year have done so in a median of six days.
Below UrbanTurf plucked out several other interesting stats about the Great Falls market.
- $1.44 million -- The median home price in Great Falls this year, up 25% compared to 2020.
- 209-- The number of homes sold this year.
- 194 -- The number of detached homes with 4+ bedrooms that sold in Great Falls this year.
- 101.5% -- The average sales price to original list price ratio in Great Falls.
- 1.9 -- The months of supply of homes for sale in July.
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- The Sky High Demand on Capitol Hill
- Georgetown: The Competition is Back
- Chevy Chase: The Seller's Market
- Mount Pleasant: No Longer Undervalued
- Del Ray: 5 Days or Less
- Logan Circle: Standard Competition
- LeDroit Park, The DC Neighborhood Where Home Prices Are Up 50%
This article originally published at http://dc.urbanturf.com/articles/blog/the-land-of-the-large-detached-house-the-great-falls-housing-market-by-the-/18688
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