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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 July 2024 Vs June 2024:
The number of sold listings decreased by 48% to 12 properties, with a top sale of $3.85 million at 119 Clarks Run Rd
The Average Sales Price increased by 22% to $1.7 million, and the Average Price Per Square Foot is $383.
The inventory of properties available for sale is measured in months’ supply, and it increased by 95% to 13.75 months’ worth of properties for sale.
The 30-year fixed mortgage rate is at an average rate of 6.4%, 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.
