Fairfax Real Estate

Buyers continue to be ultra-sensitive to interest-rate gyrations

Lack of availability is propping up prices in all segments of market

Prices for single-family homes were about $1 million on average for nine of 12 months in 2023

Localities saw drop-offs of more than 20% from 2022 figures

The D.C. metro area’s real-estate market showed strength the first week of January compared to the holiday period that immediately preceded it, but in a number of metrics remains below the level of activity a year before.

Properties under $700,000 are getting more scarce as time goes by

Lack of inventory has bedeviled market for past two years

Rents were down month-over-month but up year-over-year for apartments in Tysons

Affordability will be the buzzword for buyers in coming year

Va. Realtors: Median price in region for first 11 months of 2023 was an even $600,000