Spring is an exciting time for real estate – it’s not only a great time to benefit from buying a new home, but it’s also an excellent time to start looking forward to the year ahead in the local real estate market.
Luckily, there are plenty of good reasons to have an optimistic outlook for Northern Virginia’s housing market in 2015, and here at Christopher Companies, we couldn’t be more excited to see what this year has in store! According to a recent article from The Connection newspapers, the following are reasons to be optimistic for NoVa real estate in 2015:
- Increased number of units sold, average price: According to the article, data shows a first quarter increase in 2015 of 9%, with 3,657 units sold in the region. When comparing March 2015 data with March 2014 data, all sectors of the housing market saw an increase in average sales prices, with attached homes (such as townhomes) leading the pack with a 3.6% increase in average sales price. Year-over-year improvements in this type of data can indicate to realtors and market analysts that a healthy housing market is on the horizon, according to the article.
- More inventory: Another good sign of the housing market is increased inventory when compared to last year. According to the Connection Newspapers article, a total of 3,381 units were on the market in March this year, compared to 3,011 in March 2014. Though it still can be considered early in the year, the article states that “the numbers available to date suggest a good start to the year.”
- Collective optimism: The article points out that there is “collective optimism” of many local real estate professionals, as well as organizations such as the Northern Virginia Association of Realtors (NVAR) about a healthy year for the Northern Virginia real estate market. In fact, NVAR stated that Northern Virginia has a “sustainable, positive market direction,” according to the article.
Several local real estate professionals who were cited in the Connections Newspapers article expressed their excitement that open houses in the area have been very busy as of late, which is a great indication of buyer interest. At Christopher Companies, we certainly share this excitement! Be sure to follow our follow our Facebook page for updates on Christopher Companies open house events in Northern Virginia, and visit our website to search for our new homes in the area!
SOURCE: Connection Newspapers