Did you know that Great Falls and parts of the McLean market are a buyers’ market right now? In other parts of Northern Virginia, like Sterling, Reston and Alexandria, homes are selling in 30-45 days, in some cases with bidding wars, which is good for sellers, but not great for buyers. By contrast, in Great […]
Category Archives: Market Report
November
28
Interest Rates are Climbing…Time for Buyers to Get off the Fence!
posted by Ginny
In case you missed it with all the election news…interest rates are headed up. Just a little data: an interest rate increase of .5% on a $500,000 loan, means an additional $180 in monthly mortgage payment, which translates to almost 10 percent less buying power on a $500,000 purchase. Ouch! If you have been considering […]
Market in a Minute: February 2016
posted by Ginny
A Summary of Northern Virginia Market Conditions for January 2016 In Northern Virginia, contract activity in January 2016 was down 8.4% from January of 2015, and there were decreases in five of the six price categories. However, it’s clear that the blizzard from the 22nd — 24th was responsible for this decline — the first half […]
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