With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report […]
CONTRACTSContract activity in March 2022 was down 17.2% from March 2021 and was down in all six price categories. Through the first three months of the year, contract activity is down 12.1%. The average number of days on the market for homes receiving contracts was just 15 days in March 2022, down from 19 days […]
Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Danielle Hale, Chief Economist […]
There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always […]
There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.” […]
Spring into a season of fun here in Alexandria, VA! Be sure to add these upcoming events to your calendar. It’s going to be an exciting April for us all! Del Ray Farmer’s Market Every Saturday year-round 8AM-12PM 203 East Oxford Avenue, Alexandria, VA 22301 The Del Ray Farmers’ Market is a food and plant-based […]
CONTRACTS Contract activity in February 2022 was up just 0.6% from February 2021 and was up in three out of six price categories. Through the first two months of the year, contract activity is down 7.9%. The average number of days on the market for homes receiving contracts was 22 days in February 2022, down […]
Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was […]
Market in a Minute: A Summary of Market Conditions for February 2022 CONTRACTS Contract activity in February 2022 was up just 0.6% from February 2021 and was up in three out of six price categories. Through the first two months of the year, contract activity is down 7.9%. The average number of days on the […]
Alexandria is thrilled to be welcoming Lady Camellia Pastry & Tea Room to the Old Town waterfront! No official grand opening date has been announced just yet but, if the rumors are true, we will be enjoying tea service, freshly baked macaroons, and delicious gourmet sandwiches by spring/summer 2022. Lady Camellia recently made the decision […]