The Fall Market
My whole career I have been asked, “So, how’s the market?” Well, this year and more specifically, in the last few months, I have been asked this even more. It’s a bit of a loaded question because it depends on whether you are a buyer, a seller, or if you are looking to rent and most importantly where you are looking to do any of these types of transactions. After we clarify what they want to know, I find there is a lot of curiosity because people just seem to love to talk about real estate. Maybe it’s because we all have to live somewhere, we spend so much time there, or because of the proliferation of HGTV. It also is of interest to them because in our discussions I hear things like, “I don’t see any for sale signs in my neighborhood”, “When houses go up for sale in my area, they sell right away” or “My friend is looking for a house and they are losing out on multiple contracts”. So it seems there is a genuine interest in “How’s the market?”.
Overall, in Northern Virginia the inventory on active resale homes is down over 31% from last year and units sold are virtually the same which means it is extremely competitive to be a buyer and if you price your house correctly, you can be a very happy seller. As always it is a hyper-local market so let’s take a deeper dive into the counties.
Arlington County – the Amazon Effect is keeping inventory low, median days on the market extremely low but interestingly enough, prices are not as high as you would think considering the supply and demand in that area. Closed sales are down as inventory is down and prices are up just 4%. Houses sell quickly – median days on market are just 9!
Fairfax County – prices are up Year over Year but down Month over Month which indicates sellers are starting off too high and then making adjustments to get them sold. Days on market for Median Days and average days indicate a strong market but remember, price is critical to getting houses sold today. Closed sales are up Year over Year but are down Month over Month.
Loudoun County – the market in Loudoun is slowing a little as they are experiencing what other regions are – Year over Year gains but Month over Month declines. Median Days on Market jumped but MoM but prices are maintaining in the area. There is lots of pent up demand in Loudoun – stay tuned on their progress.
Prince William County – consistent with the other counties showing price reductions but an overall strong market as sales are strong and Days on Market are low. Prince William offers the lowest prices so more value!
Remember, within the counties, there is also a deeper dive that needs to be taken into consideration in neighborhoods and price points. Hopefully, this gives you a better idea of what is happening in our real estate market in Northern Virginia. If you have any questions or concerns or if you are looking to make a move, please feel free to call me.
It’s a good life.
Chris
Local Events
Don’t miss out on any of the exciting events in Northern Virginia!
Bluemont Fair | www.bluemontfair.org
*Fairfax County*
Fairfax County Brewfest 2019
Mustang Sally Brewing Company, 14140 Park Long Ct, Chantilly, VA
September 21 | 12pm to 6pm | Tickets $10-$15
Join the Dulles Regional Chamber of Commerce and Mustang Sally Brewing Company for the fourth annual Fairfax County Brewfest. Come enjoy a day of local craft beer, fall food, live music and more. Come out and join us to celebrate with the breweries of Fairfax County! A portion of the proceeds will benefit K9 for Warriors and VA Vets. The Brewfest is an indoor/outdoor event featuring 11 local breweries, live music, food vendors and more.
Merrifield Fall Festival
Mosaic District, 2910 District Avenue, Fairfax, VA
September 28 | 11am – 6pm
Joining the festival will be @freshfarmdc with a farmer’s market and @caboosebrewing with a beer garden in Strawberry Park. Live music, kids’ activities, and more throughout the day in addition to our curated craft fair. Free parking.
*Loudoun County*
50th Annual Bluemont Fair
Bluemont, Virginia—RT 734—Snickersville Turnpike off RT 7
September 21 & 22 | General Admission $7 / age 9 and under FREE
The Bluemont Fair is a family-friendly old fashioned “green” country fair featuring traditional crafts (juried), local art & authors, craft & farming demos, music: traditional, blues & country, free Children’s Fair, colonial reenactors, quilt display, Gardener’s Shed, blacksmithing demonstration, petting zoo, homemade food, pie-baking/pickle-making contest, antiques & collectibles, local wine-tasting, breweries & gourmet treats, historic slide show, Snickersville Academy, an 1825 log schoolhouse, beekeepers & hives, antique caboose, pre-Civil War country store, farmers market, and more! The Fair is set throughout the historic village of Bluemont in the foothills of the Blue Ridge Mountains. Sorry, no pets allowed. www.bluemontfair.org
*Prince William County*
International Festival of Woodbridge
Prince William County Government Building – 15941 Donald Curtis Drive, Woodbridge, VA | September 19 | 7pm – 9pm
Join Supervisor Principi and the Woodbridge Civic Association for an evening of merriment and cultural exchange, during this FREE festival.
Enjoy authentic cuisine, song and dance from around the world, with live folk performances. All are welcome, free to attend! RSVP required (through Eventbrite).
RE/MAX Celebrates 27 Years of Miracles
Every minute, 62 children enter a Children’s Miracle Network Hospital for treatment. For the past 27 years, RE/MAX agents have donated generously to make sure they receive the treatment they need.
Since 1992, RE/MAX agents and brokers have invested in the well-being of their local communities through the Miracle Home Program, where an agent donates a portion of their commission to their local Children’s Miracle Network Hospital. Every dollar helps fund pediatric medical equipment, treatments, charitable care and other healthcare services for local CMN hospitals.
In addition to participating in the Miracle Home and Miracle Property programs, RE/MAX offices and agents generate donations through benefit dinners, golf tournaments, auctions and other community involved fundraisers.
Every August, RE/MAX celebrates a Month of Miracles. To support the RE/MAX network’s ongoing effort to raise money for CMN Hospitals, look for a RE/MAX yard sign with the CMN Hospitals balloon, or contact me for more information on how you can help our local CMN Hospital, Children’s National Medical Center.
We are excited to announce, in 2018, through RE/MAX Gateway’s Miracle Home Program, agent donations and our charity golf tournament, we raised over $55,000 for Children’s National Medical Center!
Recipe Corner
French Onion Mac & Cheese
www.delish.com
Prep time 15 minutes/total time 1 hour, 25 minutes
INGREDIENTS:
· 5 tbsp. butter, divided, plus more room temperature for brushing
· 2 large yellow onions, thinly sliced
· Kosher salt
· 8 oz. cavatappi or other short curly pasta
· 2 tbsp. all-purpose flour
· 2 1/2 c. whole milk
· 1 c. grated fontina cheese
· 2 1/2 c. grated Gruyère
· 1 c. shredded sharp white cheddar
· 1 tsp. Dijon mustard
· Pinch of cayenne pepper
· 1 tsp. fresh thyme leaves, plus more for garnish
DIRECTIONS:
1. Preheat oven to 350°. Brush 4 to 6 ramekins with butter.
2. In a large skillet, melt 3 tablespoons of the butter over medium heat. Add onions and pinch of salt. Cook, stirring occasionally, until they are golden, about 30 minutes.
3. Cook pasta in a large pot of boiling salted water until al dente. Drain pasta.
4. In a medium saucepan, melt remaining 2 tablespoons butter over medium-high. Add flour, cook, stirring, 1 minute. While whisking, slowly pour in milk until combined. Bring to a boil, reduce heat to medium. Simmer, stirring, until sauce is thickened, about 6 minutes. Stir in fontina, 1 cup of the gruyere & cheddar until cheese is melted. Remove from heat. Stir in pasta, caramelized onions, Dijon, thyme & cayenne. Season with salt & pepper.
5. Divide mixture among ramekins & top each ramekin with remaining gruyère. Bake until sauce is bubbly around the edges, about 20 minutes.
6. Switch oven to broil, broil until cheese is golden, about 2 minutes. Garnish with more thyme before serving.
Ready to Sell? 3 Ways an Agent Helps Get You Started
The process of putting your home on the market and finding your next place can be overwhelming. Fortunately, an experienced agent can help you weigh all your options. Here’s where a professional might start:
- Researching your home’s value
An agent will have the pulse on the current market. Together, you can review how much comparable properties have been selling for and how long they stayed on the market. The agent can provide a realistic idea of what your home is worth, and how fast (or long) it could take to find a buyer. - Working with your budget
After you learn what your current home is worth, you’ll be able to hone in on your options for your next one. An agent can give you an idea of what types of properties and which neighborhoods are in your budget. And a good agent who knows the area will also be aware of local housing trends and can advise you when might be a good time to buy. - Making your home market-ready
There may be work to do before you put your house on the market. A Realtor can help you prioritize repairs and also recommend a home inspector for an expert opinion on features like roofs and HVAC.
Think its time to upgrade or downsize? If you’ve had thoughts about selling your home, give me a call. I’d be honored to help! Please feel free to reach out to me so we can talk about your specific situation.
Coming Soon in Fairfax!
*Stunning 2,500 sq ft luxury townhome within walking distance of the Metro!
*Expansive gourmet eat in kitchen perfect for entertaining.
*Quiet patio and deck great for grilling and relaxing.
Call or email me for more info on this Coming Soon property!
