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Northern Virginia Real Estate Market Updates
(2nd Quarter of 2024)
For the second quarter of 2024, Northern Virginia's real estate market seems to progress steadily. On the other hand, the recorded houses sold in the previous year are almost the same as those for the present; therefore, the homes for sale were also limited for both years.
Sellers pricing their condos for $600k or above still have a market edge; they will still secure a potential buyer regardless, while buyers looking for condos slightly under $600k will struggle.
There is a rising number of townhomes on the Northern Virginia market, meaning buyers can have many more options and deals while sellers have to compete with each other; thus, days on the market will become longer.
Let's now discuss the middle-of-the-spectrum budget, around $700,000 for those wanting to own their single-family homes. Today, this is the most demanded budget, as houses sell quickly after they are listed on the market.
In addition, sellers could assume a dominant position: they drive the decisions. The story is similar, but there is fierce competition between equally interested buyers once we start looking below the price level of $700K because the available supply is minimal.
What happens in Manassas may be completely different from what VS. what transpires in Herndon or Alexandria. For this reason, having someone local at your service becomes much more important. They'll introduce you to the dos and don'ts of every neighborhood so you can figure out what place will suit you the best.
Although the househunters' scope can vary from a cozy condo to a swanky townhouse to a tune-sized apartment, Northern Virginia has something for everyone.
Fairfax County Homes for Sale
Loudoun County Homes for Sale
Arlington County Homes for Sale
Prince William County Homes for Sale
