Across the country, media is splattered with the flashing news of how tight inventory has caused anxiety and stress among home buyers. Loudoun county has seen a tremendous growth in both the volume and prices of the home during the spring 2017 market. Multiple contracts have been common factors for homes that are turn key condition. New construction home buyers in the Loudoun county area of Aldie and Ashburn face challenges to be able to negotiate any incentives on their home purchase. Aldie (20105) has seen the largest jump in both the sales price and the buyers demand in the area compared to Ashburn, Sterling or Leesburg market in Eastern Loudoun county.
Will this madness of the real estate market continue? Is this a bubble that will bust and we all will reflect backing thinking I should have waited?
Yes, the prices are rising too fast but we do have strength in the DC metro area. The low-interest rate, strong employment opportunity and we are not nearly as expensive as Seattle, San Fransisco’s, LA or NY marketplace. Northern Virginia housing market compared to our income is still very reasonable. Yes, there may be a cycle we may slow down but that may be due to a change in the political scene in the area or a temporary pull back from the house hunter. For now, the ride is very strong in the housing market in the Easter Loudoun county of the Northern Virginia area!