What’s Happening In Our Market to Start 2021?

Dated: January 15 2021

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Here’s the latest from the markets in Loudoun and Fairfax counties.

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As we begin a new year, I wanted to bring you the latest numbers from the Northern Virginia real estate market and compare them to what we saw the year prior.

 

In Loudoun County, single-family home values have risen a bit higher than condos and townhomes. Their market value is up 9% from last year and the average sale price is up to $600,000. In the condo and townhome market, those values are up about 7% to $360,000. 

 

If you live in the county, you may know that Ashburn, Leesburg, and parts of Sterling really drive those values. We see a big gap in the median price as a result. You have a lot more at $650,000 up to $850,000 and a drop down in the $450,000 range. 

"Certain parts of the country drive values more than others."

 

In Fairfax County, we're seeing a 6% increase in single-family home values. Their average sale price is in the $675,000 range. As you move closer to Alexandria and Arlington, you’re going to see a bigger jump.

 

Mortgages are a big topic around town, too. Rates have stayed relatively flat through the year, but we did end up a bit lower than we did last year. We predict that rates will increase slightly this year, but they’re still in a fantastic spot right now.

 

If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

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Kim Barber

Buyers - Whether you're looking for your first home, your dream home or an investment property, I'm committed to providing you with the highest quality buyer service. When making the type of investmen....

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