Northern Virginia Real Estate Market Update through May 2009.

The major change we saw in the market this past month is that prices are climbing.  The lack of inventory has become a real problem, with about a three-month supply of homes on the market in Northern Virginia in general.  Bidding wars are taking place on many houses right now.  I wrote two offers for clients this week; one house had 5 offers on it, …

Northern Virginia Market Update through April 2009

The Northern Virginia Real Estate Market continued to sell at an even faster pace in May.  In the Norther Virginia area (including Alexandria, Arlington, Falls Church City, Fairfax County, and Fairfax City) 32.69% of the homes on the market sold during the month.  Fairfax County led the way in that area with 33.68% selling.  And for the first time in a long time, average prices …

Charles buys a Foreclosure

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Living the Dream

  I talked to a client on the phone this morning to get some information for her closing next week. Then I asked her what her schedule would be after the closing, when they would be leaving the area. And the excitement poured out of her. Awesome.   I realized that I just got to be a small part of what this couple has been …

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Northern Virginia Market Update through March 2009

The Northern Virginia real estate market had homes selling more quickly in March than in any month since January of 2006.  The supply of homes in the Northern Virginia market, defined as Arlington and Fairfax Counties, along with the cities of Alexandria, Falls Church, and Fairfax, was at a 3.5 month supply in March.  Prices ticked up a little bit from February, but are still …

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Northern Virginia Real Estate Market Update through February 2009

Market Statistics were published this morning by MRIS and my summary spreadsheet is below.  All areas of the Northern Virginia Real Estate market showed strength in February, both when compared to recent months and to past February data. The market for the Northern Virginia area (including Arlington, Alexandria, Falls Church City, Fairfax County, and Farifax City) is down to a 4.3 month supply of inventory. …

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Northern Virginia Real Estate Market Report through January 2009

January saw sellers chances of selling their homes improve steadily.  In the official Northern Virginia area, defined as Arlington, Alexandria, Fairax County, Falls Church City, and Fairfax City the supply of homes on the market declined to under 5 months.  This was due more to an increase in sales than a decline in listings. This January showed once again that the conventional wisdom about it …

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When moving up should you sell first or buy first?

In a buyers market like we have in Northern Virginia, people who are looking to sell their current home and purchase another have a tough choice to make. Should they sell their current home, or purchase their next home first? There is no one-size-fits-all answer, but here are a couple of scenarios to consider: Sell Home 1, Then Buy Home 2: In this market, you …

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Northern Virginia Real Estate Market Update

The December 2008 numbers have been released and are in the spreadsheet below.  Please note at the bottom of the spreadsheet, you can click on the various tabs to see the sales statistics for homes in different jurisdictions of Northern Virginia. For the most part sales remained fairly steady from Novemeber to December.  For “Northern Virginia” (defined as Alexandria, Arlington, Falls Church City, Fairfax City, …