As real estate professionals one of the questions we get time and time again is “how’s the market?” Once a quarter we will be updating you with stats and trends we are experiencing in the market. We want to give you all the facts!
In Q3 the Northern Virginia average sales price went up 4.3% QTD. To put that into perspective, the median sales price in NOVA is $513,000 so a 4.3% increase from 2016’s Q3 to now is over $22,000! Take a closer look at Alexandria & Arlington’s stats from last years Q3 to this years’:
Alexandria & Arlington – 2016 Q3 VS 2017 Q3:
So what do all of these fact and figures mean to you as a buyer? Northern VA is a great place to invest! With the price of homes rising year over year, your equity will increase as well, creating wealth for you when you decide to sell. The right realtor will help guide, protect, and assure your investment is the correct one for you and your family.
But what about if you’re trying to sell? In 2018 home prices are projected to rise another 3-4%! So with low inventory and home prices on the rise, sellers are cashing in on their investments.
Our advice to you – take advantage of what’s happening in the market. There’s opportunity for everyone! Use your resources to help guide you through this competitive and fast paced market and you will be successful.
To get a full perspective on the market, download your free copy of the Q3 Market Report for DC, MD & VA here.