The second quarter of 2019 shows an increase in home sales price, compared to last year, in Arlington, Alexandria & Fall Church. Will it continue on this trend? Keep reading for more details!
Overall, homes in Arlington, Alexandria and Falls Church sold for more money (5.6% increase overall) than compared to last year. This is despite an inventory decline of -21% due to lagging new construction, boomers and millennials vying for the same homes, strong investor interest, and some “Amazon Effect”, whereby homeowners are choosing to rent their homes instead of selling.
Despite all of this, we are in a strong market and sellers are enjoying the benefits of full price offers, short selling times, and strong buyer competition. And, given the influx of big tech companies, investment in educational and transportation infrastructure and low unemployment rates, the housing market in Northern VA should be ready for explosive growth!
For the full report, visit here.
Want to find out what the market impact is on buying or selling your home or investing in a rental property? Contact me at [email protected] or 703-798-1803.
Information provided by KW Metro Center | www.kwarlingtonva.com | Each office is independently owned and operated. Not intended to interfere with any existing brokerage relationship.
