The Future of the Northern Virginia Housing Market [2024]

The 2024 Northern Virginia housing market still continues to be one of the most challenging markets we have ever seen. New listings hitting the market are at historically low levels, home affordability is at an all time high and interest rates are still hovering right around 7%, Yet most homes hitting the market are still selling the first weekend, with multiple offers and for above asking price. So Is there any relief in sight for home buyers? In this week's video we're going to dive into exactly what I have been seeing being boots on the ground and then I’ll share with you what I believe is the future of the Northern Va housing market moving forward.
(Disclaimer...I have my FAA Part 107 Drone License)
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David Massey-Real Estate Agent
Real Broker, LLC
1765 Greensboro Station Pl Ste 900,
McLean, VA 22102

[@LivinginNorthernVirginia]

Ready to start the conversation about moving to Northern VA? Click the link below to schedule your private Zoom video call to learn more about Northern Virginia calendly.com/your-favorite-realtor_zoomcall/30min

[@kakarikidiet5586]

Could you make a video on the fun get aways that are 2-4 hours away from Nova? Like where are popular Ski Resorts, beaches, wineries, nature, etc….

[@kam5333]

What do these people do for a living to be able to afford all cash and over asking? Most homes for sale are like 800k-1m

[@tonyredemann2001]

Investors sending agents out, that's who. It's very rare it's just some random person with a great job unfortunately. I didn't realize how lucky I got getting my Springfield townhouse last November. I paid $13k ($2k under appraisal) over with subsidy. Seller asked for more from me after offering asking and said he wanted my wife and I to buy cause he wanted a family to buy. I know realize he probably had some pretty nice offers I'd assume

[@kam5333]

@@tonyredemann2001 That's a great seller, wish more were like that

[@tonyredemann2001]

@@kam5333 yea I won't forgot that when I go to sell. Hoping to own it around 13-14 more years then move back home

[@YogiTD]

Wall Street should be banned for owning any house. In Reston 50 years SF old house on sale for almost 900k that was listed for 565k pre-pandemic. This house should be rebuild due to lots of maintenance

[@Lik3ToSing]

This housing market is insane in northern va. I dont know how ppl can afford a house here with this rate and price. I can’t image if the price continues to climb 5-8% next Jan.

[@hebrews11vs5]

Yeah, I really can't believe the market. When I moved to America April 2023, I thought buying a home in that environment in Herndon, VA would be a mistake, but nope. Had we waited it would only been worse. I'm not sure how you real estate agents are surviving with this slow market.

[@David_Moon007]

My mother in law was shopping for a $650k - $750k house in Arlington and Alexandria area and outbid by $100k-$200k. Crazy. 😂

[@SapphireGladeComics]

I agree with you on everything in this video. I was delivering food down to the subdivision by Independence High School and there was a home available for sale on Creighton Road. I saw around 7 cars parked on the side near that home.

[@mohammadrafiamran2196]

We see the inventory piling up in all major four counties they cutting prices and list houses and removing it, realtors sellers and builders playing game with buyers to trap them in all time high mortgage

[@nirandro]

I feel like there’s a trap too. Can you please list those four counties mentioned in the comment?

[@ohhoho5876]

Rate cut is bound to come coming September and continues to go down. On top of that recession is on the way,,, i don't know about housing market price going up next year.

[@divyv20]

Hey David , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?

[@angelamalhotra6192]

Great video

[@LivinginNorthernVirginia]

Thanks!