Real Estate Blog

Eager Buyers Spur Early Spring Real Estate Market in Northern Virginia; Changes to VA Home Loan Program Expand Opportunities for Local Veterans

Fairfax - "With falling interest rates and rising mortgage application rates, prospective home buyers in Northern Virginia joined the ranks of others across the U.S. in January hoping to take their housing dollars further," said Ryan Conrad, CEO of the Northern Virginia Association of Realtors®. "Buyer interest, combined with a limited number of homes on the market, kept our NVAR Realtor® members busy in a traditionally slower time for home buyers and sellers," says Conrad.   Prices continue to reflect the shortage of available homes for sale in Northern Virginia. The NVAR region saw the average sold…
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Fairfax - "Our Northern Virginia market finished strong in 2019," says Nicholas Lagos, 2020 President of the Northern Virginia Association of Realtors® (NVAR). "Total dollar volume and sales prices were up, and total sales were on par with 2018," Lagos says.   Preliminary Bright MLS data show a 2019 total dollar volume of $13,582,371,231 in the NVAR region, representing an increase of 3.88% over 2018 sales volume. Average and median prices were both up around 4% in 2019 compared to 2018. Despite reports of declining inventory, the total number of homes sold in the NVAR footprint last year, which covers Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton, held steady at…
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October Market Keeps Seller Spirits High Properties Continue to Move at a Rapid Pace in Northern Virginia

Fairfax - "Not only are the days getting shorter, but so are the days on market for properties listed in Northern Virginia," says Christine Richardson, president of the Northern Virginia Association of Realtors® (NVAR) and an agent with Weichert, Realtors® in Great Falls, Va.

"The average number of days on the market for listings in our NVAR footprint was down about 27% compared to last October," Richardson says. "And in Alexandria, properties stayed on the market for an average of just 10 days - a 68% drop in the course of one year," Richardson adds.

Today marks the one-year anniversary of Amazon's announcement of its HQ2 location coming to

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A Seller's September  Leaves Are Falling, Autumn is Calling - And So Are Those Buyers!

 

Fairfax - "Fall is in the air, and so is a strong housing market," says Christine Richardson, president of the Northern Virginia Association of Realtors® (NVAR) and an agent with Weichert, Realtors® in Great Falls, Va.   "Homes stayed on the market an average of 31 days before going under contract this September - a significant drop from September of 2018, when the average was 55 days," Richardson said. "The average sold price in our region is up almost 5% from a year ago, so it continues to be a market that favors home sellers."    In September of 2018, 4,134 properties were on the market in the NVAR region, compared to 2,616 properties in…
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Fall Market Set to Kick-Off as Summer Comes to Close Low Inventory,  Housing Prices Are "On Trend" in Northern Virginia   Fairfax - "As the leaves begin to fall, so might housing inventory, but Northern Virginia Realtors® still expect buyer and seller activity to pick-up this season," said Christine Richardson, president of the Northern Virginia Association of Realtors® (NVAR) and an agent with Weichert, Realtors® in Great Falls, Va
"Housing inventory has been steadily declining since 2015 and is continuing to fall," Richardson said. "In August of 2018, we had 3,874 homes on the market for sale in Northern Virginia, whereas last month we had only 2,591 properties on the market, which is a 33% drop in inventory."
That decline is…
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Steady Northern Virginia Real Estate Market Keeps Sellers in the Driver's Seat Motivated Buyers Harness Low Mortgage Rates to Navigate Limited Housing Inventory

 

Fairfax - "Steady as she goes," says Christine Richardson, president of the Northern Virginia Association of Realtors® (NVAR), and an agent with Weichert, Realtors® in Great Falls, Va., describing the region's July housing activity. "Sales and prices in our NVAR region were relatively flat last month," says Richardson. Median and average prices were about 1 to 2 percent higher than in 2018, and the total number of sold units were around 1 percent above last July, with buyers paying 99 percent of asking prices, on average.    "In the 'Amazon Area' covering Arlington County and…
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PWAR Home Sales Report 2nd Quarter 2019 Prince William Association of Realtors® Market Report Key Takeaways Economic Conditions     Broad-based job growth in Prince William County-and in the Northern Virginia region more generally-suggests continuing strong demand for housing in the region.   Interest rates are even lower now than they were at the beginning of the year, and there is no indication of significant increases in the months to come.  Housing Market Conditions   2nd quarter sales activity remained essentially flat in the PWAR market compared to a year ago, continuing a cooling trend that began at the start of last year.   Despite flat sales, the median sales price in the PWAR market continues to climb. At $380,000 the…
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Wet June Weather Won't Dampen Northern Virginia Housing Market Homebuyer Enthusiasm Pushes Limits on Pricing

Fairfax - "Temperatures were not the only things rising in Northern Virginia last month," says Christine Richardson, president of the Northern Virginia Association of Realtors®. "Our NVAR region saw average prices that were 5 percent higher than in 2018, and the average price in Arlington rose by almost 14 percent above last year," Richardson says.

 The average sale price in the NVAR region in June was $632,016, compared to $601,928 in June of 2018. The year-to-date average price at the end of June was $608,685, which was 3.38 percent higher than the year-to-date average in mid-2018. Sales volume for the first half of 2019 in the NVAR region…
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Independence Day is one of the important days in the history of any country. 4th Of July is therefore an important day for the residents of the United States as the country became free and declared its independence on this special day. This independence was first enjoyed in the year 1776 and could be possible only by the efforts made by the leaders and the great personalities. Their efforts as well as sacrifices finally broke the chains to become a free nation. 
The single biggest issue on most home sellers' minds is how to achieve the highest sale price possible in the least amount of time.  Well, we set ourselves
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