Falls Church, Virginia, is a classic American city -- full of rich history and landmarks.

It's also a short commute to Washington, D.C.

Falls Church has seen inventory remain fairly unchanged in the past months -- good news for sellers who aren't having to fight the rapidly rising inventories that many areas of the nation are seeing.

Local real estate expert, Casey O'Neal, reports that "prices have softened somewhat in many sectors, and days on the market have increased slightly for the average property. ... Many short sales, and more foreclosed properties have started to appear in the marketplace. Entering the Fall, buyers now have a great selection of property, with stable interest rates ... . From a historic perspective, there was an average of 7 percent growth in area house prices in the last 30 years. From 1997 to 2005 there was a 138 percent growth [rate] in area house prices, which was an abnormal trend."

Median days on market is currently 59. Median prices range widely depending on the neighborhood.

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Published: October 23, 2007

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