The October 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.
Per the Bright MLS Washington Metro area Monthly Market Report for October:
"Volatility in mortgage rates through the end of the year could cause some prospective buyers and sellers in the Washington D.C. region to pause, waiting for more stability in 2025. October pending sales activity was higher than a year ago but was lower than September. Affordability is a growing challenge as home prices continue to rise, keeping some buyers, particularly first-time buyers, on the sidelines.
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.
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. Data is meaningless without a 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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