area info, Real Estate

Northern VA…Cold Weather, HOT Real Estate Market!

Burrrr…it is finally cold out…but that doesn’t seem to be affecting the RE mkt in NoVA…it is still HOT! While we are moving at a slower pace than 2009 (primarily because of the exp. of the tax credit), with rates still low, buyers are still out looking and writing contracts. The market is showing signs of health and we are experiencing @ an 11% YoY increase in the avg sales price and we are up 0.9% MoM.  Does this news surprise you?  Well it shouldn’t…with the governement in our backyard, jobs are plentiful and while the economy here was affected (like everywhere), it wasn’t nearly as affected as the majority of the country.  The average home owner in this area sells every 4-5 years….homes are always for sale, and because the area is so transient, people are always looking to buy.

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