Local Market Report
(there is no national real estate market)
Our overall market was unchanged from January's 1.4 months supply. The tepid result might be due to the weather. Northern Virginia retains the lead with 1.1 months supply; followed by Loudoun County at 1.3; then Washington DC at 1.5; and Montgomery County at 1.7. Crystal City (22202) now has eight properties for sale. The market will resume its seasonal strengthening, and home buyers will have an increasingly difficult time for the next 3 months.
As you might suspect, the flippers have been active in Crystal City, buying properties for cash and immediately re-listing them for 12% to 40% more. What you might not suspect is that some of the purchase contracts were executed about a week before Amazon's announcement. One particular agent had three such transactions. Insider trading?
To welcome Amazon's second headquarters to Crystal City, I have updated my ebook Buying a Home in Northern Virginia, now priced at $1 for download from Amazon. A direct link is here.
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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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