Great Falls is rural in atmosphere, a perfect antidote to a bustling day at the office. That's why many Washington D.C. commuters find this to be a favorite Virginia town to call home.

Great Falls

Explains Realtor Brian Block, "Great Falls is a luxury community of estate homes convenient to Tyson's Corner, McLean, and Washington, D.C. This beautiful community offers large homes on sizable plots of land - most newer homes are on at least an acre. The Potomac River is within easy reach and many people enjoy the beauty and serenity of Great Falls Park. Some of the best schools in the country serve this community, and residents can take advantage of all that the D.C. metro area has to offer."

He continues, "Homes are continuing to sell at a relatively strong pace in this luxury community. 34 homes sold in Great Falls in the last 30 days. Older homes sold in the range of the mid-400K to 900K. Newer homes in Great Falls mostly sell over the $1 million mark. Over 140 homes in Great Falls are currently available as of the middle of July. Many people moving to this area ask about buying a lot to build their own luxury custom home. Nineteen lots are currently available from 1 and 2-acre lots, to 5, 7 and 10-acre estate lots."

"With the Potomac River to the east, McLean to the south, Route 7 to the west, and Sterling/Potomac Falls to the North, Great Falls is certainly one of the most upscale and naturally beautiful communities in the immediate Washington, D.C. area," agrees Realtor Nancy Broyhill. "While undergoing considerable growth in recent years, Great Falls remains rural in atmosphere and includes two major parks along its boundary with the Potomac River. Encompassing an area of approximately 22 square miles, it is centered around an Early American Style Village Centre, with quaint shops and restaurants. Most of the home sites in Great Falls are close to an acre or more, and the schools serving the community are rated among the highest in the nation.

Broyhill says, "Great Falls shares in the continued strong residential market of Fairfax County, in which it is located. (The year 2001 appreciation for the Northern Virginia area averaged 11.5 percent and the overall year-to-date single family average sale price for Fairfax has been 9.5 percent. The prices in Great Falls, however, are considerably above the $364,293-average Fairfax sale. There were 34 Great Falls sales (settlements) in August, with an average sale price of $780,188, average days on market of 75 and average sale/list price ratio of 95.95 percent. The market is beginning to soften in the upper brackets and these homes are taking longer to sell. The average tax assessment increase in Great Falls for 2002 was 15.11 percent."

Says Realtor Phil Brown, "Great Falls is a sparsely populated area with large homes on spacious estates. Great Falls is very convenient to Washington D. C. and Tyson's Corner. Luxury and location, what else could you want? It is not unusual for properties to stay on the market a significant time period."

Advises Brown, "Despite the long periods that many houses are on the market, the sellers are unlikely to lower the prices. Many sellers in this area would rather not sell a home if they do not get the price they want. Many older properties are being sold for the land value. Newer homes are in much greater demand. Generally buyers in this area want homes that are in move-in condition."

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Published: October 14, 2002

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