Northern Virginia Housing Market Continues Balancing Act in September; Competition Eases for Home Buyers

Fairfax, Va. – “Across northern Virginia, sales are still brisk and inventory is still low. But what we experienced for September was more of a reversion to the mean, resembling a more typical fall market like we had in 2019 or 2018, rather than the outlier of 2020,” said Derrick Swaak, president of the Northern Virginia Association of Realtors®(NVAR) and a partner and managing broker with TTR Sotheby’s International Realty in McLean, Va.    The result is that home buyers in the NVAR region faced less competition in September, compared to earlier in the year.    “Comparing September activity to the previous year, the number of houses…

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Fairfax, Va. – With numbers still outpacing five-year averages, August residential housing data showed signs of a more balanced market, providing a break for Northern Virginia buyers.    “Homes continue to sell at a brisk pace in Northern Virginia, with an increase in the number of available homes for sale in our region in August,” said Ryan McLaughlin, CEO of the Northern Virginia Association of Realtors® (NVAR).    There were 2,337 homes sold in the NVAR region, representing a 1.7% increase above the number of homes sold in August of last year according to Bright MLS, the region’s multiple listing service. The number of total listings in the NVAR region was about 26% higher than last August, with 2,678 homes available for sale.   There…

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