Northern Virginia Home Sales 'Stable and Solid' in October

Posted by Bobby Montagne on Nov 28, 2017

According to the Northern Virginia Association of Realtors® (NVAR), “October saw brisk housing activity with a 7% increase in sales.

NVAR Chief Executive Officer Ryan Conrad stated, “Congressional budget proposals do cause concern for a real estate-driven economy at both local and national levels. Yet, our housing market for October shows the seriousness of our local buyers who want to celebrate their holidays in new homes. While our active listings are down some, we saw increases of contracts pending, showing that many buyers are making commitments now. Bottom line is our region is still showing a stable and solid housing market. We can’t predict the future, but those are great trends for now.”

 

From NVAR data, here’s a comparison of housing activity in Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton in October 2017 vs. October 2016:

Northern Virginia Association of Realtors October 2017 Statistics | Walnut Street Finance

 

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Bobby Montagne

Author

Bobby Montagne is a real estate entrepreneur with three decades of experience in commercial and residential property development, finance and sales. Having successfully overseen $15 billion in career transactions, he is among an elite class of real estate innovator that has consistently delivered high quality returns to partners and investors.