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. More than nine out of ten homes sold in Great Falls in 2022 fell into this category. Despite the fact that the median home price for the neighborhood is above $1.5 million, the 120 homes that sold so far this year have done so in a median of 7 days and, on average, have sold for above list price.
Below UrbanTurf plucked out several other interesting stats about the Great Falls market.
- $1.54 million -- The median home price in Great Falls this year, up 8% compared to 2020.
- 119-- The number of homes sold this year.
- 113 -- The number of detached homes with 4+ bedrooms that sold in Great Falls this year.
- 103% -- The average sales price to original list price ratio in Great Falls.
- 14 -- The number of homes that sold in less than 24 hours.
- The DC Neighborhood Where the Few Homes That Sell Move Quickly
- How Townhomes Pushed Prices Up 30% in 16th Street Heights
- Sales Up Across the Board: The Crystal City Housing Market, By the Numbers
- As Home Sales Drop, Prices Follow Suit in Hillcrest
- The Fastest Moving Prices in DC: The Palisades Market, By the Numbers
- Almost Always Above Asking: The AU Park Housing Market, By the Numbers
- Heavy Competition: The Del Ray Housing Market, By the Numbers
- Still One of DC's Priciest: The Georgetown Market, By the Numbers
- Low Supply, Big Premiums: The Chevy Chase Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/the-land-of-the-large-house-great-falls-by-the-numbers/19863.
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