NORTHERN VIRGINIA housing stats

HOUSING MARKET MONTHLY NEWSLETTER for Virginia, Maryland and DC.

This issue for NORTHERN VIRGINIA, January 2024

(All 103 zip codes/communities)

You will not find this information anywhere else. Median sale price of homes by Zip Code and City. Data from MLS. Prepared by TOBIN SEVEN, Principal Broker / Army Veteran / Eagle Scout. Licensed in VA, MD and DC. Military friendly Realtor.

Quick summary of VIRGINIA, MARYLAND and WASHINGTON DC

NORTHERN VIRGINIA home prices have INCREASED---7.0% in past 12 months. Yikes.... don't wait to BUY!

Tobin's NOTE: Median price of home today in NORTHERN VIRGINIA is $615,000.

• Same home 12 months ago would have cost $575,000.
• You would PAY an extra $3,333 a month by waiting to buy same home you saw 12 months previously.
• SUMMARY: NORTHERN VIRGINIA homes prices are continue to increase.

SEE BELOW: Forbes magazine made a prediction about the housing market. I agree with Forbes. If you are thinking about buying a Home---buy now!

SEE BELOW: This year is a "leap year". We have 29 days this month.

Video intro

TOBIN SEVEN, Principal Real Estate Broker, Army Veteran.

Licensed in Virginia and Maryland. Eagle Scout.

SEVEN REAL ESTATE ASSOCIATES®

Veteran Owned and Operated

Cell (703) 775-1111

Tobin's website

Email: Tobin@SoldBySeven.com

You receive 25% of my commission at Settlement whether BUYING or SELLING. This is real money to you. Let's talk.

SEE ABOVE. Altos Research is prominent in the housing market analysis area. I am seeing the same thing. Buyers have been on the sidelines for past few years. Now there is a rush of Buyers to buy homes.

SEE ABOVE. If you are a Renter---you have no equity. And as a Renter you are paying a mortgage---of the Landlord.

SEE BELOW. This is the reason you do not see many homes for sale. Note, number has now dropped from 98% to 94%. Not a big change in past 12 months.

SEE CHART BELOW. The NORTHERN VIRGINIA housing market shows 5-year low of homes for sale.

SEE CHART BELOW. NORTHERN VIRGINIA home prices have increased by 7.0% annually in past 12 months. Last month annual median increase was 11.3%. If you are thinking of buying---buy now. I expect home prices to skyrocket upward as we get into Springtime. Why? Not many homes for sale.

CPI (Consumer Price Index) is:

• Now 3.1%
• Dec 3.4%
• Nov 3.1%
• October 3.2%
• September 3.7%
• August 3.7%
• July 3.2%
• June 3.0%
• May 4.0%

SEE CHART BELOW. Home sales continue to decrease or barely change from year to year. Why?

• Fewer homes available for sale as new Home Builders are not keeping up with demand.
• Buyers waiting on sidelines to see what economy is going to do.
• Higher interest rates make buying a home too expensive.
• Many homeowners have mortgages below 5.0% and don't want to buy a home and dramatically increase their interest rate.

SEE CHART BELOW---by Zip Code and Corresponding City

The 103 zip codes/communities in NORTHERN VIRGINIA saw median home sale price increase of 7.0% in past 12 months.

• Lender I refer my clients to is Melissa Cabral of Fairway Mortgage.
• Melissa can close a VA home loan, conventional or FHA loan in 14 calendar days!
• This is a huge competitive advantage when competing to buy a home!
• Melissa is also with HOMES for HEROES and you receive $500 at Settlement.
• Website for Melissa Cabral.
• Cell: (617) 207-0079.
• Email: mcabral@fairwaymc.com

TOBIN SEVEN, Principal Real Estate Broker (Realtor) / Army Veteran --- Licensed in Virginia, Maryland and DC. Eagle Scout.

SEVEN REAL ESTATE ASSOCIATES® is Veteran Owned and Operated.

Voted Top 8% of all Real Estate Agents in USA (2023 - 2018)

Cell: (703) 775-1111

Email: Tobin@SoldBySeven.com

Website for Brokerage: www.SoldBySeven.com

Short video, Video intro