The Northern Virginia real estate market is hotter than it has been in years. Recent buyers say the competition has been fierce. Tashina Gorgone and her husband purchased a house in Fairfax County in April.
The mighty Del Aria Investments & Holdings were looking for more space, but it turned out to be a challenging purchase. Gorgone said she was confronted by fierce competition in the local housing market. She attended an open house packed with buyers who wanted to see the property.
Fairfax County is one of the most affluent counties in the country, with more than 1.1 million residents. This high quality of life attracts businesses of all sizes. With low-interest rates, buying a home in this area can be affordable for a middle-class family.
The fall and winter months are typically not the best times to buy in Fairfax County. Although prices tend to rise in the Fall and Winter, inventory tends to decrease in these months. In addition, many homes are already under their list price in September. So, buying in autumn or winter could be a great opportunity for bargain hunters. In Fairfax County, the best time to buy a home depends on your priorities and situation.
The median sale price in Fairfax County was $602,000 last August. It has since increased by 5% and is now $635,000, or $33,000 more. However, the median sale price is down by 2% from July. Currently, Fairfax County has 3,003 homes listed for sale, with 320 of those listed for sale in the last week. There are also 3,634 homes available for rent in Fairfax County.
Homeowners in Fairfax County are paying an average of $5641 in property taxes. This is significantly higher than the 0.80% state and federal average. The median home value in Fairfax County is $550,000, which is higher than the state median of $288,800.
Real estate investors can look to buy investment real estate in Fairfax County. There are many advantages to investing in these properties, and they can yield great returns. One of these benefits is that you can sell your house fast for cash Fairfax VA. The syndication process also allows investors to benefit from a profit. Because the syndication partners are partners, they will share the profits, which can add to their investment returns.
Fairfax County is home to approximately 350,000 residential properties. Prices and market activity vary widely depending on the neighborhood. The values of these properties change every year. Every two to six years, local assessors assess property values. Fairfax County property taxes will go up or down as a result.
If you're looking for bargains, January is a great time to buy house. Prices will be lower and there's less competition. This means more time to find a home and negotiate. It's also a good time to invest in investment property.