One Month Into the New Year – How’s The Market?

We are one month into the New Year, so how does the market look?

As always, it’s a matter of where you live. As a whole, Northern Virginia saw the number of active listings (6,314) in January decrease 2% from the previous January. New listings are down by 12.4%. Median prices for all types of properties were up 3.8%. Broken out by housing types, Single families (+2.5%) and townhouses (+3.2%) did well. Condos, however, dropped by 2.1%.

Fairfax County is fairing better with active listings going up 8.9% and prices remaining somewhat flat at +1.1%. With plenty of inventory for Buyers to choose from does this shift the advantage to them?

Loudoun County is a different story; active listings are down 12.9% but prices are up 7.1%. With a low inventory in Loudoun, I’m wondering if we are going to see more of a Seller’s market this spring.

If you want to find out how the market is for where you live, go to my Home Sales Statistics page and then find your county or zip code.

If you like this type of information, bookmark my statistics page as the information is updated on the 10^th of every month.

Of course, you can always call me and ask, “so how is the real estate market?”