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What's Up Wednesday- May 27, 2020

Posted by Leanna Conoscenti on Wednesday, May 27, 2020 at 8:38 AM By Leanna Conoscenti / May 27, 2020 Comment

What's Up Wednesday - 5/27/2020- Are home prices still increasing?

The numbers last week continue to support the trend of a decrease in the number of sales and an increase in prices. 

Last week in Loudoun county, 237 new homes came on the market which was 0.4% less than the same week last year. 115 homes sold which was down 21% from last year. The median sales price was $530,000, which was up 4% from last year. 

Last week in Fairfax County, 548 new homes came on the market which was 7% less than the same week last year. 255 homes sold which was down 35% from last year. The median sale price was $549,500 which was up 4% from last year. 

If you have questions about how to navigate this new market as a seller looking to take advantage of the low inventory or a buyer looking to take advantage of low interest rates, reach out today to set up a phone call or video meeting with one of our Residential Specialist. 

Need a strategy for how to navigate this new market?

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