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Summary
In Great Falls, VA, the median sold price for Detached properties for August was $1,525,000, representing a decrease of 21.4% compared to last month and a decrease of 10.3% from Aug 2025. The average days on market for units sold in August was 32 days, 22% above the 5-year August average of 26 days. There was a 15% month over month decrease in new contract activity with 17 New Pendings; a 5% MoM increase in All Pendings (new contracts + contracts carried over from July) to 21; and a 17.9% decrease in supply to 55 active units.
This activity resulted in a Contract Ratio of 0.38 pendings per active listing, up from 0.30 in July and an increase from 0.28 in August 2025. The Contract Ratio is 14% lower than the 5-year August average of 0.44. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
