Limited inventory continues to keep home sellers in control when it comes to price and demand. Even as mortgage interest rates flirt with 7 percent, the buyer side of the equation remains extremely competitive. In Fairfax County, the number of new listings hitting the market in January were down more than 10 percent compared to a year ago. In December new listings were down … [Read more...] about Low Inventory Challenge in Alexandria, Fairfax County Sellers continue to enjoy competitive bids and higher prices.
Market News
Tracking Real Estate Trends It's still a seller's market.
After more than a year of interest rate hikes, the real estate market in 2023 is certainly different from early 2022, but one thing remains the same: The low inventory of homes for sale means it’s still a sellers’ market. The frenzied market of early 2022, when sellers would receive dozens of offers and sell extremely quickly, is behind us. Yet well-priced homes often still get … [Read more...] about Tracking Real Estate Trends It's still a seller's market.
Low Inventory Keeping Local Prices on the High Side Sellers still in control in 22306, 22307
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
D.C. Real Estate Market Sees Low Inventory and Cautious Buyers Economy is still dominant player in homebuying decisions.
As the D.C. real estate market drifts into deep autumn and toward the holiday season, trends that began in the late summer have taken hold. Though the D.C. real estate market inventory remains low, changes in buyer enthusiasm has shifted competition to sellers. The result is properties are on the market a bit longer, and many sellers have dropped prices to find that sweet … [Read more...] about D.C. Real Estate Market Sees Low Inventory and Cautious Buyers Economy is still dominant player in homebuying decisions.
Real Estate Market Reflecting Economy’s Volatility Buyers have a bit more flexibility, but interest rates on the rise.
The real estate market appeared to catch up to some of the warning signs we’ve seen in recent months, as prices in Fairfax County dipped in between July and August. The average sold price in the county in July was $771,198, and median price was $650,000. In August, those numbers slid a bit, with average and median sale prices dropping to $721,095 and $635,000 respectively. … [Read more...] about Real Estate Market Reflecting Economy’s Volatility Buyers have a bit more flexibility, but interest rates on the rise.
