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Fairfax, Loudoun County Virginia -Residential Real Estate Market Blog

Keep yourself up to date with the Northern Virginia Real Estate market and other local Northern Virginia information. Have a question or thinking about buying or selling home call Ritu Desai at Samson Properties at 703-625-4949 or email me at Info@eNOVAHomes.com.

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  • Northern Virginia -Fairfax, Loudoun, Alexandria, Arlington & Prince William Blog, real estate Market condition written by Ritu Desai at Samson Properties.
Feb 2012-Loudoun County Housing Market Trend

Positive News is always welcomed especially by the home buyer and sellers in the Northern Virginia who are considering to be in the 2012 residential real estate market:

So what are the positive notes in the Northern Virginia market:

 

  • A 27% decline in Foreclosure at the end of the 2011 fourth quarter was reported by RealtyTrac.

  • Virginia continues to fare quite well as compared to other states across the United States, as only nine states have lower unemployment rates than Virginia. Northern Virginia has remained at 4.97%.

  • Rentals are on rise..that has put lot of first time home buyers in the market to purchase rather than continuing paying rent that would almost equal to their mortgage in some cases.

 

 

 

 As per the data released by MRIS/RBI a local MLS  the January closing in the Northern Virginia, Loudoun County region was on the positive rise. Both Average and Median sales price are both higher compared to last year. Compared to the Fairfax County Jan Market Report, in Loudoun the average price for deattached and attached homes went up significantly. On the down side the number of days has gone higher which can be related to the winter month or month right after holidays.

 

Loudoun County home sellers particularly faces a stiff competition from the new construction that has seen a significant rise in both volume of sales and prices. Builders are not negotiating and base price does not have include any or much incentives. This disappointment has lead to buyers consider resale market.

 

We continue to see large number of home buyers in Loudoun finance their home purchase either under convention or FHA loan type and a significant percentage of cash buyers!!!

 

 

 

 

 

 


 

 

 


 
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Associate Broker
EcoBroker, ABR, ePRO
Samson Properties

Direct - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com

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