About the Northern Virginia and Washington DC Real Estate Market

Alexandria Real Estate

Want a condo? Then you'll likely be in competition with other buyers. Be prepared to bid on a property or two before actually winning, especially from inside the Beltway to DC.  Condos are the perfect starter homes, and are ideal for those currently renting, and who are ready to take advantage of the tax benefits of owning a home. Want a townhouse? You'll have more to choose from, but you will still be competing with other move-up buyers. Want a single-family home??? Whoa Nelly, stop the train...and NEGOTIATE! Condos under $350,000 are seeing shorter than average days on the market. In the townhouse market, you're looking at the purchaser who is probably selling their condo they bought years ago during the buyers market and who now has equity and can make a 20% down payment which is the formula for a solid loan and a solid buyer contract. The Spring Selling Spree is now here and there are plenty of deals to be made.

Lorton Real Estate Market

If you're looking for luxury in Fairfax County, then give Lorton a serious look! The area is simply exploding with large, luxury single-family homes and luxury townhomes. Prices for something newer and more spacious start in the high $400's for townhomes, and over $600,000 for new single-family homes. Lorton is the southern most part in Fairfax County. Therefore lots of buyers consider Lorton because of its affordability in comparison to other sections of the county, and the fact that it doesn't cross over into Prince William County. In Lorton, you'll be surrounded by NEW, NEW, NEW Homes! Many different neighborhoods and subdivisions to choose from.

Woodbridge Real Estate Market

Woodbridge is still the place where people go when they want more bang for their buck. At the same time, that demand for more affordable housing is forcing Prince William County to inch up behind Fairfax County in terms of pricing. Want new construction, broadening your search here will open up many doors.  You can still find a new construction home for just under $500,000, be prepared to cough up $50,000 or more for upgrades and noticeable bells and whistles.  What you would pay for a condo in Fairfax County, can get you a townhouse in Prince William County.  However, many townhomes compete with older single-family homes, so not only is there a wider selection of homes to choose from, but you can have your pick of older vs. newer, and larger townhouse vs. smaller single-family home. Transportation modes include the popular Slug-Lines, OmniRide, Virginia Railway Express (VRE), and the HOV-Lanes. When today's Northern Virginia homebuyers want a single-family home that won't break the bank, they still choose Woodbridge, come on and find out why!

Visit MRIS for local market statistics updated monthly

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