The weather is heating up and the market is.............settling down just a little. Folks this is a dynamic market. It's a sellers market but how much of a sellers market changes with the wind. Advice to sellers now is different than March which was different than January. Let's start with the numbers. YTD [...]
Let's start off with a prediction. Don't be surprised if Amazon announces that it's second location will be out by Dulles Airport. There are a host of reasons that are obvious, starting with the 30-40 acres for sale out there to expand by Dulles, commute hub, highly trained work force and tons of [...]
Hopping into the Spring Market! The housing market in Northern Virginia continues to be on fire...in certain price points. Virtually anything under $450,000 that is in good shape, priced right and is not a condo is selling within days, above asking price with multiple contracts. Places in the $500,000-$650,000 price point that have [...]
Calling all Millennials! As I mentioned in my most recent Platinum Club post Millennials are a major, major driver of the market and rest assured I'm ready and able to help meet your unique needs. I'm actually working with the daughter of one of my first clients who would have been in the [...]
Buyers are out there, sales are up, you know what's next! It's not the mid 2000's by a long shot but the critical shortage of inventory, historic highs in consumer confidence and interest rates trickling upwards are creating price pressures in many areas and price points. If you are a buyer and are [...]
This is shaping up to be one of the most interesting start of the New Year markets I've experienced in my almost 30 years in the business. First the meat. Inventory in the NOVA area is down to a meager 3,366 homes. That is down 18% from 2017, which was down 24% from 2016! [...]
The Northern Virginia real estate market continues to chug along like the "Little Engine That Could." Inventory levels continue to shrink, yet sales remain consistent. Right now, inventory levels are 13.5% below last year and sales are only 85 sales behind the previous 30 days numbers last year. Lack of inventory is holding [...]
It's all about the Millennials. This month we discussed some deep dive statistics and trends that are informing our understanding of the market. The national home ownership rate is holding steady at about 64% which is only 1% above the figure it bottomed out at over the last decade. Even with easing credit [...]
May you live in interesting times Sometimes the market is moving uniformly and powerfully in one direction or another throughout the range of prices and locations. This is not one of those times. We continue to be in a strong yet stratified market. Let's start with the numbers and they usually tell the [...]
A Divided Market The fracturing of the market continues apace. I've blogged multiple times about the divide between the Average days on the market and the Median days and what that means for you as both buyers and sellers. The Median continues to drop in our region averaging just a bit over 8 [...]