In a sharp contrast to the City of Falls Church’s official assessments of only a 2.9 percent increase in real estate values in the past year, a report by the RealEstate Business Intelligence published in the Washington Post Monday showed that median home sales in Falls Church jumped from $561,500 in February 2012 to $737,500 in February 2013, a whopping increase of 31.3 percent.
The year-over-year jump is far greater for Falls Church than for other regional jurisdictions, according to the report. Median sales prices in Fairfax County jumped by 15.9 percent, according to the report, up by 10.2 percent in Maryland’s Montgomery County and by 11.7 percent, overall, in the D.C. Metro region. New listings increased more than 13 percent of all property segments in February compared to the previous month, according to the report, and to the George Mason University Center for Regional Analysis.
