Why the Northern Virginia Market Is So Hot Right Now

 

Home sellers are in a strong position in the hot northern Virginia market, but these conditions won't last much longer. 

What's been happening in the northern Virginia real estate market?

The first bit of good news to note is that mortgage rates have stabilized. From a low of about 3.41% last July, they spiked at 4.31% in December, and we're now seeing them in the low 4% range.

The second bit of good news is that jobs are up here too. One of the great things about living here in northern Virginia is that jobs are always up and we've got a lot of government-supporting companies that make our economy thrive.

MORTGAGE RATES HAVE STABILIZED AND THE ECONOMY IS STRONG, WHICH IS GREAT FOR THE REAL ESTATE MARKET.

When it comes to housing, we know that inventory is low. I recently placed three properties on the market on a Friday, and by that Monday, we had 13 offers on those three homes! We even had a buyer offer $7,000 in cash above the property's appraised value.

If you've ever thought about selling your house, right now is the time to do so. It's the hottest market I've seen in 10 years in real estate. You can't take it for granted though because it won't be around forever.

If you have any questions about what's going on in your specific area or community, let me know! Email or call me and I'd be happy to give you any information you need about our market. 

 

Dan Rochon

Dan Rochon is an Associate Broker in VA, Broker in MD; Operating Principal/ Owner of the Keller Williams Realty office in Alexandria - Kingstowne, VA; Owner of Rochon Investments, LLC; Owner and Co-founder of www.GreetingsVirginia.com and Owner of other Joint Ventures as well as a real estate principles instructor at Moseley Real Estate Schools. 


As a real estate sales agent, Dan and his team are consistently top producers in their marketplace and provide solutions for their clients. Through their investing company, Dan and Traci Rochon have been investing in residential and commercial real estate ventures for more than the past decade.


Dan and his wife Traci are frequent speakers and are often quoted in media stories about the current real estate market. The Rochon's have been featured on The Nightly News with Brian Williams, The Today Show, CNBC, The Washington Post, The Washington Examiner, WTOP News, Voted as The Best of DC Real Estate Agent in the Washington City Paper Readers Poll, and more...