WASHINGTON, DC—With a historically low inventory of homes for sale, and an ever-growing number of prospective buyers, Washington DC-area residential real estate is the midst of one of the most competitive markets ever.
“The competition among home buyers is probably the highest I’ve seen in four decades in the industry,” says Scott Avery, president of Tysons Corner, Virginia-based AveryHess, Realtors. “These days, it’s not uncommon for a good listing to get 5, 10, or more offers.”
According to the Northern Virginia Association of Realtors, low mortgage interest rates, fewer new home developments being built, and the trend of owners opting to stay in their homes longer or pass
WASHINGTON, DC – For anyone planning to sell a home, there’s no one better to turn to than a real estate professional. Every year, Realtors® spend hundreds of hours taking their clients to hundreds of homes. Agents are able to see and hear, first-hand, what clients don’t like, as well as what features, amenities, and extras get buyers’ pulses racing.
“You can take a client through a dozen properties with similar floor plans, features, and prices, and after a while it all runs together,” says Katja Hom of AveryHess Realtors. “But more often than not, it’s that one home where the seller has followed a few smart design tips to make their property stand out.”
Earlier this year I had the opportunity to speak at an event called “Real Estate Industry Forecasts and Innovative Trends for 2018.” I was joined by two distinguished panelists, Ryan Conrad, CEO of the Northern Virginia Association of Realtors® (NVAR); and Roderick Maribojoc, Director of the Center for Real Estate Entrepreneurship, George Mason University.
We took on a number of hot topics that will be shaping the marketplace this year and beyond – ranging from growth projections across the region and new legislation that will ease zoning and allow for smaller housing footprints and … to new technologies such as 3D printing that will change how homes are built and driverless cars
With the new tax laws and continuing growth in the market, 2018 is already stacking up to be an unprecedented year of changes, challenges, and opportunities in Washington-area residential real estate. To help real estate professionals better understand the rapidly changing market, and position themselves for success, AveryHess, Realtors is spearheading “Industry Forecast and Innovative Trends for 2018.”
Held on January 17th from 10:00 am-1:00 pm at the Falls Church Marriott Fairview Park, the Real Estate Industry Forecast and Innovative Trends for 2018 event brings together a blue-ribbon panel of experts in Washington-area real estate: Scott Avery, President, AveryHess Realtors, Inc.;
WASHINGTON, DC -- With diverse communities, world class business and economic centers, historical and cultural attractions, top ranked schools, strong employment and job prospects, and a high quality of life, the Greater Washington Metropolitan area is one of the most desirable places in the U.S. to live and work. This year, our area ranked #4 on U.S. News & World Report’s “Best Places to Live” list.
According to the U.S. Census Bureau, approximately 1,500 people move into the Washington area each week—making it one of the fastest-growing markets in the country. By 2027, there are projected to be 1 million more residents—all needing someplace to live. The region’s desirability,
Are we edging closer to a “Normal Market? Not really, we are still in the “Seller Zone”!
Look at the chart below - prices are still rising in Lorton with the average sold price up 20% over Dec. 2013. Prices will continue to climb at a steady rate as long as interest rates and inventory remain low. In the third quarter of 2013 there was an increase in new listings coming on the market but sold prices did not reduce. Why, you ask? Because inventory is still historically low. There are 9,758 homes in Gainesville and only 87 are actively looking for a buyer. That’s less than .01% of homes in active status, very low inventory indeed!
Is there any good news for buyers - absolutely! The
Clarke County is a great location for the Washington DC and Northern Virginia Commuter. It is only 60 miles west of DC and borders Loudoun County - the Nations Wealthiest County! The Median Sold price in Clarke is down 3.75% from this time last year. The average days on the market has dropped from 93 days down to just 81 days.
Sellers are selling for 94.7% of their listed price which is much higher than last year when they were averaging just 93%. Clarke County is a planned open space community, residents can enjoy the "slow growth" country setting while still being just 20 minutes away from Loudoun's Tech Corridor. First time homebuyers can find affordable prices in Clarke, the average
The Centreville market is divided into 2 distinctive markets - 20121, located North of Lee Highway, and 20120, which is South of Lee Highway.
In line with Northern Virginia and Fairfax County, the Centreville market continues to enjoy the low inventory levels, and monthly sales continue to run close to the number of active listings, creating a Sellers market with average days on the market below 30.
Avg. Sales Price
Total Unit sales
If you are considering selling, now is the time! It's time to take advantage of this exceptional Seller's
From athletes to politicians, actors to entrepreneurs, Great Falls is the long preferred zip code for our areas uber-wealthy. CNN Money ranked Great Falls first in the nation on its list of "Top Earning Towns" in 2011. It makes perfect sense though, when the average household income is $179,000. It’s the part of NOVA that has not given way to postage stamp lots. The homes are on sizable lots and of course, have sizable homes. Condos and townhomes do not exist in this exclusive zip code. Great Falls has more than just Great big homes and Great shopping, they have the Falls!
If you love to be out doors, you can access the Falls in VA or MD for a fun filled day of kayaking, climbing or hiking.
If you live in the Washington, D.C. area, you know exactly what to expect in these next two weeks. It may be the busiest time of the year here, when, after the calendar hits spring, one of the best sights in this entire country blooms.
Literally. Thousands upon thousands of trees around this city will flower and cherry blossoms will overtake the Tidal Basin and several other spots in town.
This year has proved tricky to predict the actual bloom, with our warmer than average winter followed by this recent cold front. Original forecasts had them flowering in late March, but right now, the prediction is that they will have peaked by April 4-6th, which doesn't seem to have happened.
For those who