What You Should Know About Home Buying in Northern Virginia

By | February 25, 2017

Northern Virginia is home to some of the major corporation and government contractors in the U.S. These include Boeing, Volkswagen, Verizon, Verisign, Lockheed Martin and Homeland Security among many others. As such, the area boasts of high paying public and private sector jobs and experienced one of the lowest unemployment rates in the country. This makes the area a great place to live in, work and even do business.You can also visit metrohomesadvantage.com/ here to gather more info on VA real estate.

In the real estate sector, residential properties being sold in North Virginia don't stay too long in the market too long. In fact, if you're not fast enough to act and buy that particular house you're targeting, you could miss it. Latest news says homes in the area can sell in three months' time.

Currently, the list of homes in North Virginia is minimal and the supply can last for only about 3.14 months if the average sales rate is maintained. But with the winter season approaching, there's a good chance the inventory supply can extend for four to 4.5 months.

In the past six months, the total number of homes sold in the area was pegged at 9,827. In Fall Church City, 78 were sold; 1,360 in Arlington; 990 in Alexandria and 7,399 in Fairfax County.

As the previous hot home market in Northern Virginia has cooled down, real estate experts suggest now may be a good time to buy a property. With the right negotiation strategies, you can get a good deal for a residential property and can even have the seller shoulder the closing costs.

Before buying a home in Virginia, it is a great idea to first learn about the present housing market condition. If you fancy Northern Virginia, then do a little research and gather data about the area and the best places to can live in.

Leave a Reply

Your email address will not be published. Required fields are marked *