Virginia Real Estate Market
The Virginia real estate market is dynamic. Buyers select homes for
reasons of location relative to employment, schools or proximity to
activities. Northern Virginia also offers many homes with acreage suitable
for horses and many farming properties.
The areas described below highlight some of the reasons
that homes in Northern Virginia are popular, and average price for
Single Family Homes (detached), excluding Short Sales.
VIRGINIA REAL ESTATE. The time to buy is now. There is competition for well priced homes for sale. However, prices are at the level of 2003 and interest rates have never been lower.
SHORT SALE LISTINGS. About 5-25%, depending on the county, of the homes for sale are Short Sales. Homefinders.com is experienced with Short Sales. Buying a Short Sale is quite different from a regular home owner sale simply because, since the home owner/seller is upside down on their mortgage, their lender must approve the Contract of Sale.
Alexandria City - The average list price for homes in Alexandria is $1,438,820. The average age is 72 years old. Known to residents as "Old Town", Alexandria real estate is just minutes to Washington, D.C., Reagan National Airport, Rosslyn business district and the Washington Beltway. The City of Alexandria is known for it's upscale shopping, fine restaurants and ambiance. Historic homes range from semi-luxury to luxury.
Clarke County, The average list price for Clarke County homes for sale in $799,596. Average lot size, 26 acres. The average age is 45 years old. Most properties in Clarke County are on large acreage. Clarke County real estate is a very popular market for new home buyers looking for home priced lower than new homes in Loudoun County. Many of the same builders popular in Prince William County and Loudoun County have found home buyers in Clarke County that work in Loudoun County or other areas of Northern Virginia.
Culpeper County, Virginia. The average price for homes for sale in Culpeper County is $416,596. The average age is 30 years old. Culpeper has always been popular with families looking for acreage. Located in the foothills of The Blue Ridge Mountain Range, Culpeper real estate is charming with small farms and small towns.
Fairfax County, Virginia offers a variety of styles and prices to home buyers. The average list price for homes for sale in Fairfax County is $1,328,019. The average age is 29 years old. From the luxury community of McLean with an average price range of over $3,000,000, to the county average of $1,500,000. Fairfax is commutable to Washington, D.C. by automobile and METRO. Fairfax County home buyers also buy in Fairfax because of the highly ranked public school system.
Falls Church is an incorporated city within Fairfax County. The average list price is $1,213,914 and the average age is 50 years old. Bordering Arlington County, Falls Church is popular with Washington, D.C. commuters who enjoy the convenience of METRO. Falls Church also offers highly ranked public schools. Wonderful classic brick Colonial homes walking distance to METRO.
Fauquier County, The average list price in Fauquier County Virginia is $1,222,150. Average lot size, 31 acres. The average age is 42 years. Fauquier County is a lovely area popular with home buyers who want just a bit lower price than that offered in Prince William County which has escalated dramatically in the past few years. Warrenton, the largest city is appealing to families buying newer homes with an average price range lower than Prince William County. The high average price includes properties with acreage.
King George County, has an average list price of homes for sale of $374,172 and the average age is 21 years old. King George is popular with the newly expanded Dahlgren military base. Prices in King George County are still low compared to Stafford and other more northern counties.
Loudoun County, Virginia, which for the past 7 years has been the fastest growing county in the United States, is still growing and appealing to home buyers along the Dulles Corridor. The average list price for homes for sale in Loudoun County is $873,560 and the average age is 24 years. Loudoun County Public Schools also make this a popular location for families with children. Ashburn, Leesburg and South Riding have been popular with home builders for about 10 years due to the popularity of the location and public schools. More recently an area of growth for Loudoun County has been west of Leesburg such as Purcellville and Lovettsville where Loudoun County real estate offers larger lots or acreage. Three acres is the minimum to have one or more horses in Loudoun County.
Prince William County, Virginia has an average list price of $542,949 and the average age is 18 years. Prince William County has always appealed to families that didn't want to pay the prices for homes in Fairfax County. Lately, Prince William appeals with families working in the area. Dynamic growth in employment opportunities in Northern Virginia have made Prince William a very good investment and popular with civilian and military home buyers working in Quantico and Ft. Belvoir.
Spotsylvania County, Virginia has a list price of $441,308 and the average age is 16 years old. Spotsylvania County real estate is primarily located in Fredericksburg. Part of Fredericksburg is located in Stafford County. Prices for newer homes in Fredericksburg bring home buyers to the area. The commute by Virginia Railway Express, VRE, to Washington, D.C. is 1 hour and 15 minutes.