The real estate market in Northern Virginia has made great strides over the last year and that looks to continue into the fall. With interest rates remaining low for the time being, there’s never been a better time than now to buy a new Christopher Companies home. Read on to learn more about how real estate has been doing and how some experts think it will do going in to winter.
To date, sales contracts have been up 8 percent in 2015 over 2014 in Northern Virginia with a lot of demand in areas closer to the city of Washington D.C. With housing prices continuing to rise within the district, many potential homebuyers have been looking further out into Northern Virginia to buy a home.
The inventory of new homes for sale has also gone up in the region. New home inventory in Northern Virginia has gone up 11 percent in 2015 compared to the same period in 2014 and at the end of August; there was a 3.7-month supply of homes. A balanced housing market has a six-month supply so inventory is still tight but that could be due to a continued demand for new homes in the region. The largest numbers of homes sold in the market are single-family homes with four or more bedrooms priced between $6-800k.
The housing market in Northern Virginia is closely tied to the school year so it’s natural for it to see some decline at the end of summer. However, it should pick up going into the fall. Fall is an excellent time to buy a home because there are fewer distractions than in the summer and you’ll be able to move in to your new home in time for the holidays.
Now is an excellent time to buy a Christopher Companies home in one of our gorgeous Northern Virginia communities. Christopher homes are designed and built with respect to the environment and include features and finishes that you’ll be hard pressed to find in homes by other builders. You can learn more about the new homes for sale from Christopher Companies on our website.
Source: Washington Post