As a member of the Northern Virginia Building Industries Association, I have had the privilege to participate in their seminars and classes. I should finish my CSP (certified NEW HOMES sales Professional) certification this week.
Things I have learned about our market in recent weeks:
we have a 54 month supply of condos!
The market may be on the way back up. One market consultant for a national firm confided that they think that Loudoun county "bottomed out" last October and is on the way back up.
Fairfax is too early to tell. March numbers will indicate its status. Typically, in March, the market surges with additional resale listings. If that does not happen or if the market absorbs them, the Fairfax is on the way back.
Winchester and Frederick County (VA) are the new Loudoun! Their market indicators are about where Loudoun was 10 years ago. BTW have you heard that Winchester has an NEW TV station? Channel 3, an ABC affiliate opened earlier this month!