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"Seasonality" Rules the December Market | Inventory Fall with Fewer New Listings, but Fewer Active Buyers | Northern Virginia Real Estate Market | Monthly Market Stats for December 2024

The December 2024 Bright MLS monthly data for the Northern Virginia & Washington Metro real estate market is provided below for the following areas:


  • Alexandria City.

  • Arlington County.

  • Fairfax County.

  • Loudon County.

  • Montgomery County.

  • Prince Georges County.

  • Washington, DC.


Bright MLS's "Market Outlook" in the Bright MLS Washington Metro area Monthly Market Report for December 2024, states as follows:


"As we move into 2025, there is significant pent-up demand in the Washington D.C. metro area housing market, but there are also headwinds. Inventory is likely to remain low across the region and affordability is a major constraint for many buyers. There is also uncertainty around Federal government employment in the region, which will be important to watch in the month ahead."


(Emphasis added.)


December brings a typical "Seasonality" effect to the real estate market. The number of houses for sale falls as fewer new listings occur, but houses will take longer to sell in this period as there are fewer active Buyers. From the mid-November to end of year period, many Buyers who have not found their home will pause their search until January/February the following year. Also, many Buyers who want to buy a new home will defer starting their search until the start of the new year.

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Who You Work with Matters.


The current inventory situation poses challenges and opportunities for both buyers and sellers to consider. The quality, credibility, and experience of your agent will have a decisive impact upon your home selling or buying outcome. Depth of market knowledge is key to success.


What does monthly market data mean if you are considering either the purchase or sale of a house in the Northern Virginia real estate market?


Don't guess.


Market data is meaningless without a top-tier real estate professional to interpret what it means - and just as important, what it does not mean - in your particular buying or selling circumstance.


See more market news, insight, & analysis on my "How's the Market?" Blog at bellacasapartners.com/marketnews.



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