Explore Great Falls, VA - Market Insights, Demographics, Crime, Trends & Hotspots

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Median Price
$1,725,000

Market Insights

Great Falls's real estate market is currently hot with low inventory and high demand. The median home price has fallen to $1,725,000, a significant 15.9% decrease year-over-year. At the current pace, all available homes in Great Falls would sell out in just 1.0 months, indicating a continued supply shortage. Transaction volume is up 70% compared to what's typically expected this time of year. Only 5.9% of listings saw price reductions, suggesting sellers are confident in their pricing. Approximately 23.5% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Great Falls market with the affordability index at 711.0. Based on current market indicators, home prices in Great Falls are projected to decrease by approximately 3.1% over the next month.

Demographics market for - Great Falls, VA

Total Population -

14,639

White Population

73.82%

Black Population

0.81%

Mexican18.57% (0.59% of total population)
Puerto Rican15.77% (0.50% of total population)
Cuban11.45% (0.36% of total population)
Dominican3.46% (0.11% of total population)
Salvadoran0%
Costa Rican5.18% (0.16% of total population)
Gautemalan0%
Honduran14.47% (0.46% of total population)
Nicaraguan0.86% (0.03% of total population)
Panamanian0%
Argentinean3.02% (0.10% of total population)
Bolivian3.24% (0.10% of total population)
Chilean4.10% (0.13% of total population)
Colombian0%
Ecuadorian0%
Peruvian12.96% (0.41% of total population)
Uruguyan0%
Venezuelan6.91% (0.22% of total population)

Indian 304.75% (9.64% of total population)
Bangladeshi 6.91% (0.22% of total population)
Chinese 184.67% (5.84% of total population)
Bhutanese 0%
Burmese 0%
Filipino 14.25% (0.45% of total population)
Hmong 0%
Indonesian 1.73% (0.05% of total population)
Japanese 8.64% (0.27% of total population)
Korean 108.42% (3.43% of total population)
Laotian 0%
Malaysian 0%
Mongolian 0%
Nepalese 3.89% (0.12% of total population)
Pakistani 17.28% (0.55% of total population)
Srilankan 0%
Taiwanese 0%
Pakistani 17.28% (0.55% of total population)
Srilankan 0%
Taiwanese 0%
Thai 0%
Vietnamese 34.13% (1.08% of total population)

Hawaiian0%
Samoan0%
Chamorro0%
Fijian0%
Marshallese0%

Crime for - Great Falls, VA

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Real Estate Market Prediction for - Great Falls, VA

City Hotspots
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