Real Estate Blog

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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Northern Virginia Home Prices in Full Bloom; May Market Reflects Continued Spring Growth Cycle Homebuyers in Northern Virginia Push Prices to Record Peak; NVAR/GMU-CRA Forecast Adjusted to Reflect Region's HQ2 Effect 

Fairfax - A dramatic first-quarter uptick in sales activity prompted a revised 2019 housing market forecast by the Northern Virginia Association of Realtors® (NVAR), in partnership with the George Mason University Center for Regional Analysis (GMU-CRA).
"Escalating prices and a diminishing number of available homes for sale combined to cause us to revisit 2019 projections for our NVAR market footprint," said NVAR President Christine Richardson of Weichert, Realtors®. Members of an NVAR/GMU-CRA
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April 2019 Regional Home Sales Compared to April 2018: Northern Virginia
Data as of May 6, 2019   The Northern Virginia Association of Realtors® reports on April 2019 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.   A total of 2,157 homes sold in April 2019, an increase of 3.75 percent above April 2018 home sales of 2,079.   Active listings decreased this month compared with 2018. Listings were down by about 26 percent below last year, with 2,505 active listings in April, compared with 3,396 homes available in April 2018. The average DOM for homes in April was 30 days, a decrease of about 35
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February 2019 Regional Home Sales Compared to February 2018: Northern Virginia Data as of March 6, 2019   The Northern Virginia Association of Realtors® reports on February 2019 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 1,146 homes sold in February 2019, an increase of less than 1 percent above February 2018 home sales of 1,143.
Active listings decreased this month compared with 2018. Listings were down about 21 percent below last year, with 1,889 active listings in February, compared with 2,396 homes available in February 2018. 
The average days on market
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'HQ2 High,' Short-Term Uncertainty Reflected in Northern Virginia Association of Realtors® December Housing Market; New 'Under Contracts' Up 74 Percent Year-end Numbers Mirror Historic Highs of 2017; Government Shutdown Impact to be Determined    Fairfax - "Contracts in the pipeline and home sales are up in our NVAR footprint despite stock market swings and a continuing federal government shutdown," said Northern Virginia Association of Realtors® CEO Ryan Conrad. "Even with these factors, our housing market is holding steady. We know that people want to live in Northern Virginia. 
  "In 2018, Realtors® in Northern Virginia conducted transactions at a pace almost identical to 2017, which was the highest since
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