What’s Hot in Northern Virginia Real Estate

1
Whats Hot in Northern Virginia Real Estate
2

• Virginia is for Lovers, Northern Virginia, with
  its varying geography to the west and lovely
  beaches and Chesapeake Bay to the east, is a
  pleasurable location for many reasons. 

With a market in a constant state of change, what
are the hottest trends in the northern Virginia
real estate market right now? Lets take a look.
3
Changes to Mortgage Lending Increasing House
Prices 
With the Feds raising their rate towards the end
of 2015, mortgage interest rates in the U.S are
now just above 4 marginally higher than they
have been for most of the 2015 calendar year.
This, combined with new mortgage programs coming
into the market, makes for an evolving real
estate market, and one which can benefit an
educated investor or buyer.
4
Northern Virginia Real Estate Statistics 

• The Northern Virginia Association of Realtors
  issued a report in December 2015 for home sales
  activity for Fairfax and Arlington counties the
  cities of Alexandria, Fairfax, and Falls Church
  and the towns of Vienna, Herndon, and Clifton.

5
Heres what they found

• 1,623 homes sold in December 2015, a 1.69
  increase over December the previous year.
• Active property listings increased in December
  compared with 2014. Total listings are up by
  7.36.
• The average days on market for homes increased by
  1.54 compared to 2014.
• The average home sale price fell to 551,451, a
  3.71 decrease.
• The median sold price of homes was virtually
  unchanged at 479,900.
• The 1,226 new pending home sales in Northern
  Virginia is an increase of 10.05 compared to
  2014.

6
Hot Areas in Northern Virginia Real Estate

• If you were wondering where to look for hot
  property in Northern Virginia, then Nela
  Richardson, chief economist for Redfin in
  Washington, says demand for homes is much higher
  in areas close to the city, such as Arlington,
  McLean, and Alexandria.

• Areas such as Del Ray in Alexandria, and Falls
  Church City, are up and coming performers, as
  buyers are beginning to realize its affordability
  compared to surrounding suburbs like Arlington,
  and they offer similar amenities to Arlington as
  well. 

7

• The Northern Virginia real estate market is on
  the move, and for those savvy investors making
  well-informed purchase decisions, there are gains
  to be made. Lending conditions from financial
  institutions and the changing economy of the area
  are driving local development and pushing prices
  close to construction activity. Its certainly a
  hot time for real estate in the area, and a great
  time to consider property investing for your
  financial future.

8
CONTACT US

• Michael Putnam
• http//michaelputnam.com
•  ADDRESS
• 12700 Fair Lakes Cir 120Fairfax, VA,
  22033Keller Williams Fairfax Gateway
•  
• PHONE
•  703-928-6514
• EMAIL
• info_at_michaelputnam.com