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The real estate market in Northern Virginia continues to evolve as we transition into fall. For the week of September 18 through September 25, there have been some notable shifts in the real estate activity across Fairfax, Prince William, and Stafford counties. Here’s a detailed look at the key trends for each county.
Fairfax County Real Estate Update
Fairfax County remains a focal point in Northern Virginia real estate, though the latest numbers reflect a slight slowdown in certain areas:
- New Active Listings: There were 244 new active listings, marking a decrease compared to previous weeks. This decline suggests a tightening in available inventory.
- Coming Soon Listings: The number of "coming soon" listings has also dropped, with 129 properties expected to hit the market, reflecting a dip in future inventory.
- Under Contract: On a positive note, buyer activity remains strong, with 271 properties going under contract, showing an increase in buyer demand.
- Closed Sales: Closed sales for the week have decreased to 173, indicating a slowdown in finalized transactions.
Prince William County Real Estate Update
In Prince William County, the market presents a similar picture with some fluctuations in activity:
- New Active Listings: There were 107 new listings, reflecting a decrease as fewer sellers enter the market.
- Coming Soon Listings: The "coming soon" category has dipped slightly, with 60 properties set to be listed in the coming weeks.
- Under Contract: Buyer interest remains steady, with a slight increase in under-contract properties, reaching 122 homes for the week.
- Closed Sales: The number of closed sales has dropped to 81, showing a decline in finalized deals for the week.
Stafford County Real Estate Update
Stafford County's market continues to exhibit its own unique trends, with mixed activity this week:
- New Active Listings: Stafford saw 52 new listings, reflecting a slight drop in new properties entering the market.
- Coming Soon Listings: The "coming soon" listings remain low, with just 15 properties expected in the near future.
- Under Contract: Buyer activity remains healthy, with 52 properties going under contract, marking an increase for the week.
- Closed Sales: Closed sales have dipped, with only 22 transactions finalized this week.
Summary
This week’s market update for Fairfax, Prince William, and Stafford counties reveals some cooling in the number of new and "coming soon" listings, while buyer demand appears to be holding steady, especially in terms of properties going under contract. However, closed sales are down across all three counties, indicating that some transactions may be taking longer to close or that fewer deals are being finalized.
For a more personalized view of how these trends might impact your buying or selling decisions, feel free to reach out to Brandy Glauner. Whether you’re looking to enter the market or close on a property, she is here to assist with expert guidance throughout the process.
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As we transition from the height of summer into the early days of fall, the real estate market in Northern Virginia continues to show a dynamic and varied landscape across Fairfax, Prince William, and Stafford counties. Below is a detailed look at the market activity for the week of August 21 through August 28, 2024.
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