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Welcome to The Stillwell Group Market Update. I’m Lee Stillwell.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to Bright MLS, the marketplace for Great Falls, VA residential properties, here’s what happened in January 2025 Vs December 2024:
The number of sold listings decreased by 65% to 6 properties, with a top sale of $2.4 million at 828 Constellation Dr
The Average Sales Price decreased by 28% to $1.25 million and the Average Price Per Square Foot is $432.
The inventory of properties available for sale is measured in month supply, which increased by 190% to 3.50 months’ worth of properties for sale.
The 30-year fixed mortgage rate is at an average rate of 6.8%, according to Freddiemac.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s essential to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in. We’ll see you at the next Stillwell Group Market Update.
