Local Market Report
(there is no national real estate market)
The months supply of homes on the market is 1.4, down from last month’s 1.5. We have seen the hottest November and December markets in 15 years, especially in Northern Virginia! This is very likely a result of the Amazon effect, but their HQ2 hiring has just begun.
Northern Virginia leads at 1.0 months supply; followed by Loudoun County at 1.2; then Montgomery County at 1.7; and Washington DC at 1.9. All jurisdictions are in sellers' market territory. There are now only 7 homes for sale in all of ZIP code 22202 (aka HQ2) and 2 in neighboring 22301, which is a mere 6-day supply! 2020 will be a very interesting year, so stay tuned.
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The report above is prepared monthly from David's independent research for his clients. It does not contain important data for macro-economists, is not tailored for a TV audience, includes no national data, and is not prepared by the computer weenies at the MLS. Click this link to learn how this report is prepared and why it is the best available anywhere!
1. The market index represents the months supply of resale homes and measures the ratio of home buyers to home sellers. Below 1.5 is a hot sellers' market; 1.5 to 3.0 is a normal sellers' market; 3.0 to 5.0 is a neutral market; above 5.0 is a buyers' market.
2. Northern Virginia: Alexandria, Arlington County, and Fairfax County (including Fairfax City and Falls Church City).
3. Results are not seasonally adjusted.
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Your Friend in Real Estate, LLC
Arlington, Virginia, USA
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