Has Northern Virginia /Fairfax Market Cooled off ?2013 Real Estate Market Report

By
Real Estate Agent with Samson Properties VA0225077251
https://activerain.com/droplet/QLp

Many of us have been repeatedly heard and read through media sources that the real estate has recovered. Low inventory is causing multiple offers and it is cheaper to buy than rent with low interest rate.

While the fact about the Northern Virginia- Fairfax County market is true, that the rise in the price has been seen in past year. The short supply is having an impact on median sales prices, which experienced double-digit growth for the 4th consecutive month through entire DC metro area. Good news is with the holidays behind us and not too harsh winter (what NE is facing) we have seen an increasing in the inventory.

What a Northern Virginia Fairfax Home Buyer can do NOW:
Many of the buyers may want to wait out till spring to coincide  with the school year or move in warmer weather, buyers you may want to think over your strategy.  Do remember that you are not just the only one who wants to work around your personal accommodation. Sellers who are in the market in the winter months are motivated sellers. Take advantage and offer a rent back to the seller and or ask for extended closing date. You may have to give some thing to balance your move date and needs.

What a Northern Virginia home Seller can do NOW:
Price it right and stage your home. Buyers in today's market don't want to deal with work that needs to be done as soon as they move or price it according to the condition. If you do end up getting multiple offers be selective and not greedy. Listen to your local Realtor and make the decision. Similar to the seller being motivated, buyers in the winter are comitted to make a transaction complete.

To recap- Here are the stats from the month of January 2013 in the Northern Virginia Fairfax County area:


Are you still on the fencing your decision to purchase your Northern Virginia home in Fairfax & Loudoun County? Speak to your local Northern Virginia Realtor on how the market.

 

Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 
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Ambassador
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Ritu, a 36% plus decline in listings does not sill well with buyers. ..we are in similar situation in Maryland 

Feb 12, 2013 11:53 PM #1
Ambassador
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

We have an extremely low inventory down here as well and a lot of frustrated buyers.

Feb 13, 2013 04:50 AM #2
Rainmaker
504,688
Teral McDowell
Referral Patners LLC - Murphy, TX

Dallas is also experiencing a low in the housing inventory and hoping sellers will catch up in the Spring.

Feb 13, 2013 12:48 PM #3
Rainmaker
771,587
Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great Info for your market!! Keep up the good work and good luck with your business in 2013!

Feb 13, 2013 09:05 PM #4
Rainmaker
4,026,904
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ritu, great job on the market report for Northern VA and Fairfax County.    Hope your sales remain in double digit increases for 2013!

Feb 13, 2013 10:35 PM #5
Rainmaker
742,392
Ritu Desai
Samson Properties - Ashburn, VA
Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949

@Fernando I am with you we still have lot buyers who are in disagreement with the market and willing to wait out.

Feb 14, 2013 10:02 PM #6
Rainmaker
742,392
Ritu Desai
Samson Properties - Ashburn, VA
Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949

@Barbara-Jo, In our area we add decent number of inventory in Feb. that is helping out. However right price home is getting snapped in a weekend.

Feb 14, 2013 10:03 PM #7
Rainmaker
742,392
Ritu Desai
Samson Properties - Ashburn, VA
Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949

Teral, I agree it seems like we went from one extreme to other.

Feb 14, 2013 10:08 PM #8
Rainer
24,708
Kenny Franklin
Angstadt Real Estate Group, LLC - Stafford, VA
ABR®, AHWD, e-PRO®, SFR, MRP

Ritu, unfortunately what happens in the Northern Virginia area eventually works its way down to my area. I’m in the City of Fredericksburg area and I see it happening.

Aug 29, 2013 11:40 AM #9
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Rainmaker
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Ritu Desai

Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949
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