At year-end 2018, I often get that question from friends and clients across Vienna.
The final numbers will be out in early January but for now…
- Vienna – Year-to-Date sold listing were down 6.4%
- McLean – Year-to-Date sold listings were down 9.4%
- Arlington – Year-to-Date sold listings were down 4.4%
I plan to update this short post in early January 2019, but for now, it looks like the total number of sales regionally were fewer than the previous year. And you can check out a chart of Vienna real estate statistics.
Influences include higher prices, higher interest rates, and loss of consumer momentum (a wait and see attitude).
But many home sellers are in a holding pattern because they have low mortgage payments due to refinancing.
- Northern Virginia – Year-to-Date sold listings were down 3.4%
The announcement that Amazon selected the Crystal City area in Arlington for their National Landing headquarters has juiced that real estate market considerably. In my opinion, most of those jobs will be filled by workers who already live and work here.
Most importantly from the real estate point of view, the greatest impact will be within 10-minutes of the Crystal City Metro station. Being really, really close to work is how Amazon workers prefer to live.
Finally, you should know that I have clients and prospective clients looking to buy, and clients and prospective sellers looking to sell. Everyone is looking for a deal… and luckily long-term 30-year interest rates have dropped back to 4.5%.
See you in 2019.