Great Falls, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Great Falls, VA Real Estate Data


Great Falls Housing Market Information

With a population of 16,146, 5,024 total housing units (homes and apartments), and a median house value of $1,139,963, Great Falls house prices are not only among the most expensive in Virginia, Great Falls real estate also is some of the most expensive in all of America.

Great Falls is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Great Falls than is found in 98% of the communities in America.

The large homes that make up Great Falls are primarily owner-occupied ( 93.79%).

There is a lot of housing in Great Falls built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Great Falls built between 2000 and later ( 15.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.49%). There's also some housing in Great Falls built before 1939 ( 1.81%).

Great Falls Home Appreciation Rates

Real estate appreciation rates in Great Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.13% during the period.

NeighborhoodScout's data show that during the latest twelve months, Great Falls's appreciation rate, at 4.62%, has been at or slightly above the national average. In the latest quarter, Great Falls's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to Virginia, our data show that Great Falls's latest annual appreciation rate is higher than 70% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$1,139,963

Great Falls, VA HOME PRICES

Value Range
> $1,165,000 55.5
$874,001 - $1,165,000 27.3
$582,001 - $874,000 12.1
$466,001 - $582,000 1.3
$349,001 - $466,000 0.9
$233,001 - $349,000 0.8
$116,001 - $233,000 1.7
$59,001 - $116,000 0.2
$0 - $59,000 0.2

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
0.843239444867365 0.277008310249307

Number Of Homes And Apartments:
5,024

Rent & Ownership

 

Average Market Rent:
$3,557 / per month

Homeownership Rate

Homeownership
Owners 93.79
Renters 6.21
Vacant 4.16

Housing Market Details

 

Age of Homes

AGE OF Great Falls HOMES
2000 or Newer 16.0
1970 - 1999 71.7
1940 - 1969 10.5
1939 or Older 1.8

Types of Homes

TYPE OF Great Falls HOMES
Single-Family 99.6
Townhomes 0.3
Small Apt. Buildings 0.0
Apt. Complexes 0.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Great Falls HOMES
No Bedroom 0.00
1 Bedroom 0.38
2 Bedrooms 1.18
3 Bedrooms 8.85
4 Bedrooms 41.09
5 or more bedrooms 48.49

Great Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
101.79% 4.22% 10 10
* 10 is highest