Over the past two months there has been a 70% increase of new inventory available to buyers in the City of Manassas. Is it something sellers should be concerned about? Absolutely not! There are 14,053 homes in the City and as of Halloween night, only 87 are actively looking for a buyer. That’s .0062% of homes in active status, very low inventory indeed!
The graph below shows the amount of active listings over the last 5 years. The blue line represents new listings that came on the market. As you can see, active listing inventory has been pretty steady since 2009 with small peaks and valleys.
Buyer interest, prices and interest rates are expected to rise again next year so we highly
We are still in a "Seller's Market"
Over the past two months there has been an increase in new listings coming on the market in Gainesville, compared to last year at the same time. This is an increase of 32.26% in new inventory available to buyers. Is it something sellers should be concerned about? Absolutely not! There are 10,777 homes in Gainesville, and only 118 are actively looking for a buyer. That's .01% of homes in active status. Very low inventory, indeed!
The graph below shows the amount of active listings over the last 5 years:
Buyers, prices and interest rates are expected to rise again next year so we highly recommend you get out there this fall and take advantage of the increased
It's good to see an active selling market again. While some areas are experiencing the typical summer slow-down because so many are taking advantage of vacations, it's a great day for real estate regardless of whether you're in the market to buy or ready to sell.
Homes coming on the market are selling within a month. Buyers are taking advantage of the low interest rates and buying before prices and interest rates go higher. In July, over 38 homes sold in less than 10 days for top dollar!
Just remember, today our buyers want move-in ready and, in Burke, there are wonderful homes ready to move in to. If you're planning to sell, take the time to look around your house and fix anything you
How many times are you going to hear "You may be missing the boat if you want to buy real estate"?
Yes, interest rates are going up, making your buying power less. You'll see from the following statistics that home prices are increasing, but it is still "A GREAT DAY FOR REAL ESTATE" because in the past, we've seen interest rates higher and home prices higher still.
Just don't wait too long if you really want to buy something. Traditionally, prices continue to rise and if you buy now, you'll be able to say "I got a great price at great terms!"
Average Sold Price
Sellers are asking, "Is this a good time to sell my home in Northern Virginia?"
Good question, and I have the answer: ABSOLUTELY!!
Just look at the housing report below, comparing sales activity for May 2013 against May 2012. Sold prices jumped an average of 22% for all home types (single family, townhome, condo) with the largest jump for townhomes and condos at 27%, or $70,000. But wait - detached single family homes sold for over $108,000 more than last year, too! I call this the "Big Bounce Back" from the price drop of 2007-2009. Check out the stats below then go to the next question sellers are asking...
Did you know? VDOT is spending 267 million on the Rt. 29 and Linton Hall Road Interchange. The estimated completion date is June 2015 and you can watch a video of the finished product at http://www.virginiadot.org/projects/resources/NorthernVirginia/Linton_Hall_800.mpg
Even with the road construction and traffic delays, demand for housing in Gainesville is on the rise! New construction is so "HOT" developers are standing in line at the county offices trying to obtain approval for new projects. You might ask, why is new construction important? The answer is, as new home prices increase so do resale prices. This has always been the trend so come on new construction!!
Just look at the
The Median Sold Price for Frederick County, as a whole, for last month was $249,743. This number dropped from $258,476 in 2010. This -3.38% Sold Price change has many wondering what will happen this spring. Have prices finally fallen to the bottom? Is the Frederick Real Estate Market ever going to stabilize? These are questions we all would like to have answers to.
It’s that time of the year when more houses come onto the market and this year is no exception. Ashburn has a great selection of homes and almost all of them are under 15 years old–the approximate age of the entire area. The greatest thing about Ashburn is that it is flush with such a huge diversity of homes, an individual or family can keep trading up or down in size and style without ever changing grocery stores!
While it appears we have a good amount of listings that came on in March, we are down 29.9% compared to last year for single family homes and down 52.2% for townhomes/condos. In the low price ranges, this means stiff competition for first time homebuyers seeking to find that new home in a good location and in good condition...
The Spotsylvania area market has definitely rebounded from the snowy beginning to 2010. Buyers seem to be coming out in droves, especially in the $200,000 and under pricepoints. We are in a very interesting time now as our inventory is down considerably, houses are not staying on the market for nearly as long as they were last year, and buyers are trying to make sure they go under contract by April 30th if they qualify for the tax credit...