The market throughout Fairfax County continues reflecting trends that have taken hold throughout the region for quite a while. For sellers, prices were up nearly 4 percent from January through August of this year, compared to the same period in 2022. More locally, in 22306 prices were up just under 1 percent, and in 22307 they were up about 3 percent. Average days on market … [Read more...] about Low Inventory Keeping Local Prices on the High Side Sellers still in control in 22306, 22307
real estate
Interest, Inflation Shifting Buying Habits Buyers cautious on new loans, but seller’s market holds steady.
Throughout the D.C. region, low inventory is helping sustain demand for sellers, but buyers may be tapping the breaks a bit as we head into the summer months. With interest rates at about 5.5 percent nationally in the first few weeks of June, new mortgage loan applications dropped to their lowest point in 22 years. “The purchase market has suffered from persistently low … [Read more...] about Interest, Inflation Shifting Buying Habits Buyers cautious on new loans, but seller’s market holds steady.
Market Spotlight: Hollin Hills Sellers definitely have the advantage in this historic development.
On March 29, I checked BrightMLS, our multiple listing service and—emphasizing the region's low real estate inventory—no homes actively listed for sale in Hollin Hills. One “coming soon” property was slated to become active March 31, but if history is any guide—particularly in Hollin Hills—this new listing for more than $1 million, will likely be bought in the blink of an eye. … [Read more...] about Market Spotlight: Hollin Hills Sellers definitely have the advantage in this historic development.
Are We at the Top of the D.C. Real Estate Market? April numbers have sellers on top and buyers chomping at the bit.
No one can tell you with certainty when we're at the top of the market. The best we can do is follow trends as closely as possible and then look at certain indicators on the horizon that might tip us off to where we're going next. But if D.C. region home sellers ever wanted a period of time when prices were up, inventory low, and buyers stumbling over themselves to beat out the … [Read more...] about Are We at the Top of the D.C. Real Estate Market? April numbers have sellers on top and buyers chomping at the bit.
Local Spotlight: How Hot is Alexandria Real Estate? Sellers' market dominates as prices are up and inventory low.
If you have been thinking about selling your home this year, you’re probably already aware that throughout our region, it’s a hot sellers’ market! Here at D.C. Region Real Estate News, we give you a monthly rundown of the numbers so you can keep track of the market from Prince William and Fairfax to Montgomery and Prince Georges counties, as well as D.C. But today we wanted to … [Read more...] about Local Spotlight: How Hot is Alexandria Real Estate? Sellers' market dominates as prices are up and inventory low.