Northern Virginia Real Estate Market Update - August Week 1

By
Real Estate Agent with Samson Properties VA0225077251

It's that time of the week again! (Well, a few days late, but better than never.) What does the housing market look like in Northern Virginia? Is everything still okay? Do you need to worry about anything? I'll be answering these questions for today's market update.

woman in black leather strap watch holding black and white ceramic mug

What's going on with the marketplace?

Every time I open up my news front and people say things like "the market's going to crash" or "it's not crashing, just softening in the market", and it seems like no one knows what's going on. So what's actually going on?

male putting sticky notes on wall

Always In Demand

I have a simple analogy here: think of real estate as buying a car (except that real estate appreciates over time). It'll always be on demand. People need cars to go from one destination to another, and it has always been on a high demand. Same goes with housing -- people's needs and preferences change over time, and there will always be a point in somebody else's life where they might need a bigger square footage, or perhaps  trying to lessen it and move to a smaller home for retirement. People might also need to relocate depending on their needs and other circumstances they may have. 

low-angle photography of man in the middle of buidligns

Here to Stay

People need to understand that unlike cryptocurrency (Bitcoin, Dogecoin, etc.) or the stock market where the market shifts every hour, every day, real estate is a steady market that respects what your needs and wants are. If you're into real estate investment, or just buying a home as your primary residence for the long term, you're pretty much guaranteed a safe deal. 

Person Holding Gray Pen Sitting Near Laptop

A Minor Setback, Nothing More

The biggest question I get is "Ritu, what happens if the market further goes down?" Even if it goes down and the interest rates adjust a little bit, if you're going to stay for 10-15 years or even a bit shorter, you'll do well. Real estate is an opportunity market and is here to stay for the long term. 

two men talking

Piece of Advice

If you're one of my home sellers and you're planning to move away or moving up, or probably planning to cash out, it doesn't matter -- buy high and sell high. However, it's important to be realistic with your price point and where you're going to be listing. 

With such market movements and making profit in the real estate industry, it's always important to get the assistance of a well-experienced realtor. Have any questions or want to learn more about the up-to-date housing market conditions? Let's team up -- 703-625-4949 or email at info@enovahomes.com. Make your move today!

 

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. 


 

Comments (1)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Northern Virginia home buyers and sellers are sure to value your real estate market report, Ritu.

Aug 06, 2021 03:05 PM