Neighborhood Chat – September 2010: Potomac Falls (Zip Code 20165)

Potomac Falls, Virginia is the area designated by zip code 20165.  Neighborhoods within Potomac Falls include Cascades/Lowes Island, Countryside,  Rivercrest, River Bank Woods, South Bank, Great Falls Chase, Great Falls Forest,  Potomac Hunt, Environs/Glen Heather, Broad Run Farms, Cascades Estates and Eden.  The major roads surround these neighborhoods are Route 7 and Algonkian Parkway (which turns into Fairfax County Parkway).  The northern perimeter is bordered by the Potomac River and Algonkian Park. Homes in Potomac Falls were primarily built in the 1980’s to the 2000’s; however there are homes in Broad Run Farms that were built earlier.

As of October 1, 2010 there are 69 single-family homes active for sale  in Potomac Falls.  4 of these are short-sales and 4 are foreclosures. The average price is $603, 786 (note: this price is skewed due to 2 listings in the Cascades Estates over $1 million.  If these are removed the average sales price of active listings is $569,720).  There are 51 townhomes active for sale in Potomac Falls with an average price of $360,915. 8 of these are short-sales and 6 are foreclosures.  On average, active single-family homes have been on the market for 75 days and townhomes have been on the market for 59 days.

The following chart display information for homes closed in September 2010 in Potomac Falls:

September 2010Homes Closed	# Homes Closed	Average Sold Price	Average Seller Subsidy to Buyer	Average Net Sold Price	Average Days on Market before Contract	Average Net Sold Price as a % of List Price
Single-Family	17	$518,735	$4,303	$514,432	62	97.12%
Townhomes	16	$318,681	$3,070	$315,611	66	96.98%

(Market Statistic Disclosure: Data retrieved from the Metropolitan Regional Information System. Information is deemed reliable; however is intended solely for informational purposes and should not be relied upon without independent verification)