As we step into 2025, the North Central Virginia housing market continues to show resilience despite shifts in mortgage rates and economic factors. While the year began at a slower pace, there are promising signs that indicate a strong spring season ahead for both buyers and sellers.
More Opportunities for Buyers
With mortgage rates hovering near 7%, some buyers have taken a wait-and-see approach. However, the increase in active listings—up 23.3% compared to last year—means more options are available. This boost in inventory provides buyers with greater selection and potentially more negotiating power, making it a great time to explore the market.
Home Values Remain Strong
Despite a temporary slowdown in new contracts and showings, home values continue to appreciate. The median sold price in January saw a 5.6% increase, demonstrating the continued strength and demand in the North Central Virginia market. Sellers can take confidence in knowing that home prices remain competitive, and well-positioned properties are still drawing interest.
Looking Ahead
While new listings are still slightly below last year’s levels, we anticipate that lower mortgage rates this spring will bring renewed energy to the market. Sellers who have been waiting for the right moment may find this an excellent time to list, as buyer demand traditionally increases in the coming months.
At Preslee Real Estate, we are committed to helping our clients navigate the market with confidence. Whether you’re looking to buy, sell, or simply understand how these trends impact you, our team is here to provide expert guidance every step of the way.
If you’re thinking about making a move this year, let’s connect and explore your options in this dynamic market!
📈 For more in-depth market insights, check out the full report from Bright MLS – January 2025 Housing Market Report
If you’re thinking about making a move, now is a great time to connect with us. Let’s explore how these trends can work in your favor!
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2025-01 Shenandoah County, VA
2025-01 Warren County, VA
2025-01 Page County, VA
2025-01 Rappahannock County, VA
2025-01 Winchester City, VA
Your Trusted Real Estate Experts
At Preslee Real Estate, we’re here to guide you through the opportunities this market offers. Whether you’re looking to buy, sell, or simply explore your options, our team of dedicated professionals is ready to assist every step of the way.
Let’s make 2025 your year in real estate. Contact us today to start planning your next move!
