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    ď‚· 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.  ď‚· 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  ď‚· 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.  ď‚· Despite flat sales, the median sales price in the PWAR market continues to climb. At $380,000 the…

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