Falls Church News-Press Spring Real Estate 2019

R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

SPRING 2019 | PAGE 13

Real Estate Spring 2019

Report Shows F.C. City Sales Down, Local Agents Tell a Different Story

by Matt Delaney

Falls Church News-Press

A recent report shows the City of Falls Church’s home sales dropped precipitously over the past year. But local purveyors and observers of the market are pushing back against the definitive nature of the report’s findings.

Conducted by Chicagobased real estate analytics firm ShowingTime using its Market Watch tool, the figures show that Fairfax County and the City of Alexandria saw slight bumps in their sales while Arlington County, the City of Fairfax and the Little City itself all witnessed

declines. The drops were mostly modest in surrounding jurisdictions, but Falls Church sank the lowest with a 33 percent decline from February 2018 to February 2019.

Coupled with an increase in inventory — which outside of Washington, D.C., the City was the only other municipality to experience that, according to the report — and a rise in assessments, Falls Church appeared to be getting more expensive while also witnessing a weakening market that was struggling to move properties. For a locality that banks on real estate taxes to help fund its quality of life, the news

could easily be seen as troubling.

But according to some who track the City’s real estate market, such as Falls Church City assessor Ryan Davis, he doesn’t believe the numbers are as declarative of the local market’s health as they purport to be.

“It depends on sample size, because we have so few sales in the City, it could just be that sales got pushed back or moved forward,” Davis said, explaining that sellers try to time their sales in order to avoid making another mortgage payment. “If you get a couple of people to move it in a month it can cause percentage difference to look big. At roughly

“COMING SOON” signs typically mean the property is on the market in a sellers paradise like the City of Falls Church. Local real estate agents believe the level of interest in the City hasn’t waned despite a recent report’s findings. (Photo: News-Press.)

200 sales per year, so about 18 a month, for it to go down 33 percent that’s six sales. I could very easily see six sales being moved up because people wanted to miss that mortgage payment.”

Using Bright MLS data, which ShowingTime also extrapolat-

ed its conclusions from, Davis checked the patterns himself. He noted that while sales were down 10 percent overall from 2017 (222) to 2018 (201), when comparing the January and February

Continued on Page 14

INSIDE: Credit Score Misconceptions page 15 | Bailey’s, 7 Corners Seek Commercial Facelift page 18 | F.C. Home Sales #s pages 19–20

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R EA L E STATE

PAGE 14 | SPRING 2019

FALLS CHURCH NEWS-PRESS | FCNP.COM

Varying Data Sources Makes Market Analysis Confusing Continued from Page 14

sales of 2018 (11) to 2019 (15) there was a marginal increase in year-over-year activity, contrasting ShowingTime’s findings.

Better Homes & Gardens real estate agent Heather Embrey has an office located on N. Washington Street and does a fair bit of business in the City. To her, the problem could lie in the varying databases that agents, analytics firms and regional real estate groups, such as the Northern Virginia Association of Realtors (NVAR), use.

She brings up her own experience of switching over from an MRIS system to Bright MLS and the confusion that caused.

Embrey specifically notes how her former system only had a few statuses that could be assigned to a property — such as active, contingent, non-contingent and sold.

With some new designations that Bright adds, for example “pending” and “under contract,” it can skew the data to give different impressions of the market.

“I sit on the board of directors for our local association, and it’s been a huge problem for us because we don’t know how long it’ll take for it to level out when it merges to a bigger system,” Embrey said. “ShowingTime is pulling data directly from Bright and Bright is not accurate because of the conversion and changes that come with it. You can’t just pull these 30,000-foot views on zip codes now, you have to do hyper local.”

Ava Nguyen of Westgate Realty Group, Inc. in Pimmit Hills, on the other hand, did agree with data. Nguyen brought up the steady wave of Amazon HQ2 workers coming to the area

who are favoring more affordable locales that are closer to the Crystal City site, such as Alexandria. Nguyen also discussed how the seasonal effect on home sales was more pronounced this year as opposed to last. A snowier winter this year made home showings less possible for real estate agents, who either arrange for or shovel out driveways themselves to get the properties ready.

A representative from ShowingTime informed the News-Press that it stands behind its numbers.

The company’s policy, according to this representative, is to crunch the sales numbers, provide them to members of Bright and members of local boards — in this case, NVAR — and give the local boards the tools to share the data with their clients. When it comes to interpreting or commenting on the data, ShowingTime believes it is best to leave that up to individual members of a local board, as this representative acknowledges that regional trends may vary from local trends.

One area that local realtors were united on was the price point in the City still continues to box out potential buyers. Nguyen noted that the $1.5 – $1.7 million range that new homes are listed at in the City often prevent first time home buyers from seriously considering living in Falls Church. Embrey echoed that sentiment, and mentioned her experience with a potential buyer who put a bid on a home and even had its escalation addendum kick in, but the buyer decided to move to North Arlington instead where the home price and real estate taxes were more manageable.

HOMES THAT FALL around the $800,000 range are hot ticket items that seldom make it a week on the market in Falls Church. Once the numbers creep up into that $1.5 million-plus territory, though, buyers often opt for similar areas such as Arlington to reside in. (P����: N���-P����) That’s why City homes that hover around the $800,000 range will often be snatched within days, according to Nguyen, especially with mortgage interest rates dropping to around 4.1 percent, per Davis.

Although Embrey did point to two possible factors that could be dissuading buyers from residing within City limits.

One was the GreatSchools ratings for Falls Church City Public Schools, which recently dropped from its usual perch as highly ranked 10s or 9s down to 8s (in George Mason High School and Mary Ellen Henderson Middle

School) and a 6 (in Thomas Jefferson Elementary School).

Though Embrey said that GreatSchools ratings often frustrate real estate agents, who don’t understand the algorithm used to determine its scores that paint an unduly negative picture of a school system and buying area.

Another factor is traffic.

Anecdotally, Embrey has said potential buyers have expressed their concern about congestion in the City, and the propensity for people to use side streets such as Park Ave. and Lee St. as cutthroughs. But Nguyen feels that the traffic is just a by-product of

the area’s high demand and that it’s accounted for in buying decisions, while the school system’s strong reputation remains a selling point.

But overall, the City’s market remains in good health. Davis addresses this by noting the median ask-to-sold price is 99.1 percent, with the median askto-current list price being 100 percent.

To him, he would only be concerned if sales prices were dropping. Davis believes that if inventory or sales are low, it’s more an indication that people don’t want to leave the City.

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R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

SPRING 2019 | PAGE 15

Poor Credit Isn’t Home Buying Death Knell It Once Was

by Orrin Konheim

Falls Church News-Press

The common perception of many home buyers is that having low credit makes owning prohibitively expensive, but that isn’t as clear-cut as it’s made out to be.

“I often tell potential home buyers in this environment that they need three things to be able to secure a house: a pre-approval letter signifying your credit, a strong realtor and a strong lender,” said Frank Kolencik of Fulton Mortgage Company.

As housing inventory tightens, it’s not uncommon to have 10 or more offers on houses around the $500,000 range which means being able to show a preapproved credit letter is a must for first-time buyers. A FICO credit score, for example, lower than 580 could still qualify you for a Federal Housing Administration loan but then the down payment increases from 3.5 to 10 percent.

Similarly, credit scores can be improved but one might have to pay a steep monthly fee.

However, there are a number of options buyers might not be

aware of. Many mortgage lenders, for example, will advise people. Kolencik notes that he’s met with buyers up to six months to a year before they’ve been ready to purchase the loan. They generally live with family, friends or share the rent with a partner while building up their credit score.

Ultimately, however, Kolencik says, he just offers advice. “You can lead a horse to water but you can’t make them drink,” he says.

Mike Ott of First Heritage Mortgage says that home buyers make the mistake of going to a credit repair agency thinking they will get you the results you need when the service can often be done for free for the right lender.

If a home buyer’s score doesn’t meet the typical minimum requirement (in the 620 range) and a client’s credit repair requires a longer-term relationship, they can be redirected to non-profits such as Operation Hope. For instance, Fulton Financial Corporation is involved in a grant program with Operation Hope where, depending on eligibility, buyers can receive up to a $2500 grant towards their closing

costs or down payment.

HUD-approved agencies are available to help low income home buyers as well. The Center of Assistance of Families has processed over 500 families in the past year with its home ownership program. As a HUD-approved credit counseling organization, it’s not allowed to charge people and they are subsidized in return.

Some area real estate agencies also offer financial literacy seminars.

Edmy Salazar, who co-founded DiMaVi realtors, got a financial consultant’s license with World Financial Group in 2018 to guide potential home buyers into making more important decisions. She originally ran weekly workshops at the Keller Williams realty office in Falls Church and now co-runs workshops at WFG’s office in Merrifield.

Workshops such as Salazar’s help, but the role of credit repair agencies can’t be discounted entirely. They have a licensed authority to take actions no nonprofit or informal advisor can do. Donna Perkins, vice chairman of the National Association

of Credit Services Organizations, and president of KC Credit Services, said her “company has helped millions of people alone.”

It’s worth noting that despite all the options, credit writing is still tight. The hope for lenders like Fulton’s sales manager Ryan Mutter is that people know they’re not permanently barred from owning for having bad credit.

“There are lenders that will go as low as 585 credit scores, but I wouldn’t say it’s opened up considerably industry-wise. Credit writing is still tight, especially,” said Mutter. “As far as programs go, I think there’s a perception out there that if your credit’s not perfect, you can’t buy a house, I think that’s not true, and part of what we’re doing is change that perception.”

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R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

Newly-Minted Railroad Cottages Hit the Market

INTERESTED BUYERS can now take a peak inside the Railroad Cottages that were recently completed in the City of Falls Church. (Clockwise, starting from the bottom left): Shots include two different styles of kitchens, the Railroad Cottages signage, an exterior shot of the cottages layout and the common room that is shared by all who reside in the community. The community is a finalist for the Urban Land Institute’s 2019 Trends Award for Excellence in Housing Development, but the cottages are going fast — four of 10 homes have been sold, with another four currently under contract. Open houses are every Sunday from 2 – 4 p.m. (Photos: Courtesy Theresa Twiford/Pearson Smith Realty)

FALLS CHURCH NEWS-PRESS | FCNP.COM

R EA L E STATE A Falls Church News-Press Advertorial

SPRING 2019 | PAGE 17

M e e t Fa l l s C h u rc h’ s Re a l E s t a t e E x p e r t s B������ E����, L��� ��� F�����

Bethany Ellis is a full time and professional Residential Real Estate Agent serving all of Northern Virginia specifically Falls Church, Falls Church City, McLean, Arlington, Herndon, Reston, Fairfax and Great Falls. Bethany is passionate about helping her clients smoothly transition through the buying or selling of a very precious commodity their home!

Bethany is tech savvy with a personal touch. Using modern technology as well as timeless tools like phone calls and leg work, Bethany is a local selling and marketing expert.

She will be present with you every step of the way from preparing your house for sale to negotiating the contract on your behalf. Bethany’s goal is to help guide you through the buying and selling process with expertise and experience while ensuring you are at ease. Bethany has sold over $130 Million of Real Estate and she can help you too! If you have Real Estate questions, Bethany has the answers. Call, email or text Bethany today for a free, confidential meeting. Bethany is always happy to help you buy, sell or invest in real estate.

Bethany Ellis, Long and Foster 1355 Beverly Rd., #109 McLean, VA 22101 703-307-7003 • buyandsellwithBethany.com

T��� M�K�����, K����� W������� Tori McKinney LOVES being a Realtor - perfectly blending her passion for Falls Church and finding her clients their dream homes in her beloved community. After moving to Falls Church in 1998, McKinney immersed herself in community advocacy and served as Housing Commission Vice-Chair. McKinney is Executive Producer of Tinner Hill Music Festival taking place June 8th, 2019, and is a 6-year member of Falls Church City Public Schools Business in Education Foundation. While maintaining her NVAR Lifetime Top Producer, she is a Top Producing Real Estate Agent featured in the Washingtonian and Arlington Magazines.

Named Pillar of the Community by Falls Church Chamber of Commerce, she is annually voted Best Realtor by Falls Church News-Press readers. McKinney is Falls Church’s expert, eager to provide home buyers and sellers ROCK STAR service.

Tori McKinney, ROCK STAR Realty Group, KW Metro Center 2101 Wilson Boulevard, Arlington, VA 22201 703-867-8674 • ROCKSTARRealtyGroup.com

C���� S����, K����� W������� R����� F���� C����� Colin offers over 12 years of experience helping people buy and sell homes throughout the DC Metro area. From short sales, to bid wars. From international relocations with sight-unseen decisions, to months long searches with dozens of home tours. Colin has seen enough to know that no situation is completely unique, yet no two sets of circumstances are exactly the same. Colin prides himself on guiding his home selling and buying clients based on their unique desires, temperament, and budget, helping them avoid common pitfalls along the way, and helping set them up for success on their terms.

MORE ON SELLING: In a time when many homes continue to sell in the first or second weekend it can be tempting to sit back and allow the market to do most of the work. It is Colin’s belief that, even in this environment, a carefully prepared home, a carefully crafted marketing plan, and a hands on marketing launch can still make a notable difference to a home seller’s bottom line.

It is also Colin’s belief that there should be an action plan in place up front for when a home sale takes a little longer than expected.

MORE ON BUYING: On the other side of this often competitive market are home buyers trying to find their next, or maybe first, home. Knowing when to hold back and when

to go all in is a delicate balance dictated by a number of variables, both data related and emotional. Colin works with his buying clients to make sure they understand the dynamics around their offer decisions, and the urgency involved. Sometimes missing out is the best outcome, other times stretching a bit more than expected might be right, and in others a buyer may actually have an upper hand.

Colin and his family call the City of Falls Church home, and can often be found as a swarm of bikes or scooters along the W&OD trail.

Colin Storm, Keller Williams Realty Falls Church 105 W. Broad Street, Suite 200, Falls Church, VA 22046 Mobile: 703-638-914 • Office: 703-533-5300 • fallschurchliving.com

E� S�������, RE/MAX A��������� Ed Loves The Little City! As a Falls Church native, he has deep roots in the community where he grew up, works and lives. Ed’s background in residential design, construction and property management have been the backbone of his professional real estate career serving Falls Church and it’s surrounding neighborhoods.

Ed loves working with buyers, sellers and property owners to accomplish their goals with real estate. Leveraging his knowledge in construction he is able to help his clients better understand what they are buying in a new home. Buyer clients can be assured they are receiving the benefit of decades of both real estate and professional construction experience when they work with Ed. Looking to Sell? Ed grew up riding his bike on these streets, delivering pizza and yes, even the Falls Church News Press. He knows the ins and outs of this amazing community and knows how to best guide and serve your needs when selling.

As a foreign service brat, Ed traveled with his family growing up. Early on he understood the demands of a homeowner leaving their home for parts unknown. As a part of his service offerings, he has been making the process of being a landlord a little less daunting for more than a decade.

No matter what your real estate needs, Ed has the mindset of service and the experience to make your sale, purchase or real estate investment a success!

Ed Seroskie, RE/MAX Allegiance 3319 Lee Hwy, Arlington, VA 22207 (cell) 703-965-1175 • (o) 703-522-1940 • ed@edsmetroproperties.com

K�� T������, TTR S������’� I������������ R����� Named as one of Washington, DC’s Top Producing Agents (Washingtonian, 2018), Ken specializes in showcasing and selling Falls Church homes. By preparing a custom marketing plan for each listing, Ken’s listings have been featured in the FCNP, as well as The Washington Post, Washington Business Journal, Curbed DC, and DC Magazine. Ken’s custom marketing strategies have resulted in his listings selling for Top Dollar and setting sales records in the Falls Church area. Prior to becoming a top producing Realtor®, Ken was a successful litigation attorney in Washington, DC, and draws frequently from that experience in his real estate career, saying: “The skills to be a successful Realtor® are the same skills it takes to be a successful lawyer. I focus on making my clients’ interests my sole priority and zealously strive to achieve the best results for each client.”

Ken also hosts the home-related video series, Home Trends with Ken, featuring tips to help homeowners create a home that inspires them while adding value. View episodes of the series on Ken’s blog at KenTrotterHomes.com.

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Ken Trotter, J.D., Realtor, TTR Sotheby’s International Realty 703-863-0650 (c) 745-1212 (o) • KenTrotterHomes.com

R EA L E STATE

PAGE 18 | SPRING 2019

MASON DISTRICT SUPERVISOR Penny Gross denied separate offers for a bus depot and a bazaar to takeover the now-bankrupt Toys R’ Us’s lot in Bailey’s Crossroads, which BC7RC backed, but the group often feels its input on Gross’s agenda is unwanted. (Photo: News-Press)

Commercial Vitality Wanted at Bailey’s, 7 Corners But Inertia & Cohesion Missing

by Matt Delaney

Falls Church News-Press

The roughly three-mile stretch of land that encompasses Bailey’s Crossroads and Seven Corners has been due for some tender love and care in the form of commercial revitalization with its derelict storefronts and siloed business community dotting the scenery.

Generating the momentum and continuity to do so, however, still eludes those who’ve elected to help get this project off the runway.

The non-profit, all-volunteer Bailey’s Crossroads Seven Corners Revitalization Corporation (BC7RC for short) has been in existence for roughly 10 years. It was originally put forward by Mason District supervisor Penny Gross, who decided the two adjacent locales should be jointly served, piggybacking off the county’s sweeping community revitalization plan that it released in the mid-1980s. The purpose of BC7RC was to be the mouthpiece for the county’s development objectives to the community at-large, while also providing the community an outlet to provide feedback to the county. But those who’ve taken on the role of overseeing BC7RC aren’t optimistic about how the group’s goals are trending at the moment.

“Since I’ve been here I’ve seen over eight tower cranes crossing east into Carlin Springs Rd. and the only development we’ve seen in Bailey’s Crossroads are 78 townhomes by Stanley Martin [Homes],” Sean Ek, a board member since 2017, said while referencing the constant development in neighboring Arlington County with his cranes comment. “But we’ve also seen HHGregg, Toys R’ Us and Babies R’ Us leave the area. We’re going in the wrong direction.”

To be fair, it hasn’t been a winless pursuit. BC7RC’s interim president Alison Oleson acknowledges that landing the District Taco at the Skyline Center, the ever-bustling Chick-fil-A at the Willston II shopping center and the Tom Dolan Swim School that opened a couple of stores down from the Chick-fil-A are all good gets for the area. They are anchored by, according to Oleson, one of the most active Home Depots in the country just across Route 50 in Seven Corners.

And the e-lofts, an upscale apartment complex that recently broke ground at the intersection of Columbia Pike and Carlin Springs Rd., is another positive step. Add in a vibrant, international food scene and the payoff of a commercial overhaul has merit.

Although, those highlights are

countered by nagging problems.

According to Ek, Mason District has the largest office vacancy in Fairfax County with 44 percent of it not in use. Oleson herself wasn’t too enthusiastic to announce that the Chili’s on Leesburg Pike is being replaced by a Denny’s. A lack of Metro access and the commercial investment those stations attract is a subtle, but compounding issue as well.

Yet Gross is upbeat when assessing the area’s possibilities.

The recently bankrupted Toys R’ Us and Babies R’ Us lots aren’t in operation, but both stores don’t qualify as fallow as they remain under lease and are paying their rents. It’s preventing any redevelopment from occurring at the moment, though the right pitch could change all that. Gross also identifies a special service company that’s taken an interest in the Skyline Center as an opportunity for BC7RC to get involved. To her, she doesn’t believe she and BC7RC are on the same page about what revitalization constitutes.

“I believe you need to go big,” Gross said. “[BC7RC] needs a broader business component on its board. It would be helpful in educating the whole board in the potential in Bailey’s and Seven Corners area. There’s great potential there; don’t be afraid of it.”

FALLS CHURCH NEWS-PRESS | FCNP.COM

Still, the recent flight of big box stores Ek mentioned and the mirror that Arlington holds up daily — with its new apartment structures and mixed-use developments springing to life just a few hundred yards away from the heart of Bailey’s — has made it hard not to question when those prospects will come to fruition.

A diagnosis by Oleson concludes there isn’t enough interest at the county or commercial level in moving the process along.

“I’d like to see some more proactive people in our area,” Oleson said. “There was a Seven Corners task force a few years ago, and it determined that the demographics [of Seven Corners and Bailey’s Crossroads] don’t support positive development. I have a hard time believing that though as Mosaic [District in Merrifield] has demographics that were about the same and it came along just fine.”

One crucial difference, which both Ek and Oleson note, is the complexion of business ownership between Mosaic and BC7RC’s area of focus. The New York Times reported back in 2012 that South Carolina-based private retail developer Edens was the primary architect in revamping Merrifield.

For Bailey’s and Seven Corners, a fractured ownership map makes it difficult to convince them to unite under the BC7RC banner. Bringing local business owners onto BC7RC’s board, rather than simply people who live in the community, was what Gross tasked current members to do in late 2017 after meeting with a consultant. Gross emphasized that the peer-to-peer support business owners could offer, which she likened to how she associates with other politicians, would allow BC7RC to better direct its efforts.

However, it’s been a tricky feat to pull off. Part of it is a general complacency from property owners who aren’t attached to the surrounding community, per Oleson.

Ek added on to that independently when he said business and property owners don’t live in the area, so they struggle with seeing the value in joining the board and trying to enrich the commercial landscape.

Another part Oleson pointed out is that BC7RC attempts to function as a de facto chamber of commerce, but without the resources and reputation a chamber embodies — such as recruiting developers and business owners to the area.

Revitalizing what the county refers to as the Bailey’s Crossroads Community Business Center (CBC) in its Comprehensive Plan,

revised this past October, has been an ongoing mission for decades.

The plan notes that “Bailey’s CBC has developed largely as a concentration of strip-malls and shopping centers without a strong sense of community identity.” BC7RC has been trying to create some identity by hosting community events, such as an Octoberfest this fall at the soon-to-be built Interim Park on Columbia Pike. Oleson has ambitions of doing a small business workshop in order to transfer those community vibes into a commercial setting and bringing in more public art, like last year’s INOUT display at Seven Corners.

It comes down to transparency and support from the local government, which BC7RC feels is hit or miss.

Gross’s decision to pass on allowing either a bus depot or a bazaar to take over the Toys R’ Us lot was prudent in the eyes of BC7RC. And both are excited about the prosperity that will flow from Amazon’s HQ2 site in Crystal City into the peripheral areas such as theirs.

Awareness, or lack thereof, about the county’s plans remains a sticking point. For instance, Ek cited the land swap agreement the county entered into to build the new homeless shelter where the old animal shelter was located on Seminary Rd. after a residential project by Avalon Bay fell through. BC7RC only found out about the plans for the homeless shelter after the deal had been made and the county wanted the group’s opinion on how many beds the shelter should provide.

Oleson and Ek also want the county to find a way to hire a parttime administrative assistant for BC7RC who could set up meetings with local business owners to sell them on board membership.

“If you were to rate our relationship with our supervisor, it could be better. Much better. To [Gross’s] credit, she has told us what we need to do. But mostly it’s, ‘Here’s my agenda. It’s open for discussion, but this is what we’re doing,’” Ek said. Oleson added separately, “We’re not actively recruiting positive development into our area. Our board could do better if we had the support staff to do that and I think our supervisor should be coordinating that.”

Gross, meanwhile, believes the lack of coordination goes both ways.

“There’s been very little communication and that disappoints me,” Gross said. “I’m always available.”

R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

SPRING 2019 | PAGE 19

Real Estate

Top Falls Church Home Sales

January-March

#2 $1,800,000

#1 $1,825,000

#4 $1,615,000 #3 $1,660,000 Top 5 F.C. Home Sales January 1 – March 31, 2019 Address

#1 2126 McKay St. #2 6364 Lakeview Dr. #3 2408 Chestnut St. #4 1502 Crane St. #5 6432 Lakeview Dr.

BR

7 6 7 5 4

FB

7 5 6 5 3

HB 1 1 1 2 1

List Price

$2,180,000 $1,949,000 $1,699,995 $1,699,900 $1,650,000

Sale Price

$1,825,000 $1,800,000 $1,660,000 $1,615,000 $1,610,000

Zip

22043 22041 22043 22046 22041

Date Sold 3/29/19 1/29/19 3/5/19 1/25/19 3/19/19

Source: MRIS, Inc.; Photos: MRIS, Falls Church News-Press

#5 $1,610,000

R EA L E STATE

PAGE 20 | SPRING 2019

FALLS CHURCH NEWS-PRESS | FCNP.COM

Falls Church Area Housing Market — February 2019 Report Zip Code

Area

Median Price

Number of Homes Sold

Average Days on Market

22046

City of Falls Church

$827,500

6

79

22041

Bailey’s Crossroads

$444,932

20

31

22042

Sleepy Hollow

$535,000

25

34

22043

Pimmit Hills

$650,000

19

56

22044

Lake Barcroft

$591,900

5

28

Home Sales Vs. 1 Year Ago

Home Prices Vs. 1 Year Ago

Change in # of Homes Sold: February ‘19 vs February ‘18

Change in Median Home Price: February ‘19 vs February ‘18

-25.00%

Change in Falls Church City (22046)

+18.12%

Change in Falls Church City (22046)

+5.26%

Change in Bailey’s X-roads (22041)

+56.12%

Change in Bailey’s X-roads (22041)

+25.00%

Change in Sleepy Hollow (22042)

+5.68%

Change in Sleepy Hollow (22042)

+26.67%

Change in Pimmit Hills (22043)

+31.31%

Change in Pimmit Hills (22043)

-37.50%

Change in Lake Barcroft (22044)

+62.16%

Change in Lake Barcroft (22044)

Source: Metropolitan Regional Information Systems, Inc. Copyright © 2019 Metropolitan Regional Information Systems, Inc.