Despite the gloomy national real estate market figures that have surfaced over the past weeks, the local market here in South Riding VA and the greater DC area are in considerably better shape.
Through the end of February, theÂ median home sales priceÂ in South Riding VA was right at$385,000, or anÂ increase of 4.1%Â or $15,000 over the same period one year before.
The average listing price of homes for sale in South Riding is holding steady at $468,995 as of March 2, and out of 107 homes currently on the market, 27 are in a phase of foreclosure.
The greater DC area market has been buttressed by the DC economy â€“ since the local job market is more exposed to the public sector and less the sectors that have been laggards (manufacturing, finance, etc.), the local real estate market has likewise been relatively resistant to the devastating home price declines seen elsewhere.
Bottom line: donâ€™t let the national market woes distract and influence your view. Â Real estate is and always has been a local industry â€“ so trust and seek the advice of those who know best (top local real estate professionals) and act accordingly.
Learn more about South Riding VA homes for sale.