Sellers continue to run the table as we enter the spring/summer real estate season throughout the region, with bidding wars and above-asking sale prices remaining the norm. Even amid the backdrop of high inflation and rising interest rates, a substantial edge still belongs to sellers, with the economic impacts yet to be seen. With prices up and inventory remaining low, … [Read more...] about Home Sellers Remain on Top amid Volatile Economy Real estate value enduring amid higher inflation and interest rates.
Market News
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.
Springtime Sprint for Area Homebuyers Competition still stiff as inflation and economy prompt questions.
Sellers continue to rule the roost throughout the D.C. region, as prices (and inflation) continued to climb in February, while active inventory remained quite low. How low is inventory? Just take a look at last month. Washington, D.C. active listings were down 11 percent compared to February 2021. And most of the region reflected the same when comparing the two months. … [Read more...] about Springtime Sprint for Area Homebuyers Competition still stiff as inflation and economy prompt questions.
Buyer Competition Defines January Market How might rising inflation and higher prices affect the region’s real estate future?
Competition among D.C.-area home buyers remained fierce in January, as the Federal Reserve contemplated interest rate hikes in the coming months. In mid-February, James Bullard, Federal Reserve Bank of St. Louis president, called again for a short-term interest rate hike of 1 percent by July, while other Fed representatives weren’t quite as aggressive. Fueling these … [Read more...] about Buyer Competition Defines January Market How might rising inflation and higher prices affect the region’s real estate future?
Real Estate Market Spotlight for Zip Code 22308 Mortgage Applications Rebound after April Downturn
During the past year, the real estate market has been hot throughout the entire DC metro region. Let's take a close look at just one zip code: 22308, which is located within the Fairfax County part of Alexandria just north of George Washington's Mount Vernon. If you live within that zip code, your home may be worth more than a million dollars and is likely to sell quickly. … [Read more...] about Real Estate Market Spotlight for Zip Code 22308 Mortgage Applications Rebound after April Downturn
