We may be still under winter weather with frost warnings but this has not stopped the motivated home sellers and home buyers of the Northern Virginia Loudoun county area to bring the HOT spring real estate market.
We have seen an increase in sales volume along with a strong desirable volume of listings which means there are ample of choices for the home buyers in the area to pick the home that meets their search criteria.
The factors that influenced the surge in our real estate market could be due to low-interest rate. We dropped to 3.75% average interest rate in the area during March 2016.
If you are a home seller in the Eastern Loudoun county cities of Aldie, Ashburn, Leesburg, Sterling, Dulles, Arcola, South Riding, Chantilly and Potomac Falls don't be surprised if you home gets under contract in a shorter period. Multiple offers have been cited on a home that is in a turn key condition.
If you are a home buyer in the Eastern Loudoun county cities of Aldie, Ashburn, Leesburg, Sterling, Dulles, Arcola, South Riding, Chantilly and Potomac Falls arm yourself with a strong approval letter from a recognized lender, flexible with the closing timeline, and be able to respond and react quickly if the home is listed on the market especially if the home is in your desired target neighborhood.
New construction in the Easter Loudoun county cities of Aldie, Ashburn, Leesburg, Sterling, Dulles, Arcola, South Riding, Chantilly and Potomac Falls has always seen a very strong demand. As expected this time of the year the builders are shrinking their incentives compared to the end of the year or during the winter market.
What's next? Is it typical spring market where we see a surge in real estate or will the market cool down? The housing prices have edged up in past month. We don't have crystal ball however, we have seen a strong confidence in the housing market that has supported with employment opportunity in the area and low-interest rate.
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