From the past few days, the market experts have said that Virginia Real estate has got one of the reasonable priced properties in the US. There are quite a few places in the Virginia, that have places and town with historic significance. Many of these places and towns are still run in the same and exact manner as they were found just during the colonial rule.
Arlington is one such area in the Virginia Real estate that impress you completely. This area is quite close to the metro area of the Washington DC area. This is also one of the reasons why this region is so popular amongst people who are working in Washington DC area. The homes that are sold here are usually placed for not more than fourteen days to a fortnight after they get listed. The market of the real estate of this region has more buyers than the sellers. In fact, the prices are witnessing an upward trend from last year and it is almost up be five percent. And also the best economic news is that the market is growing at a rapid speed.
If you do not want to stay near the Washington DC area, then it is also possible that you consider the Virginia Beach North area. This area of Virginia real estate also have more buyers than the sellers. But the houses usually stay in the market for almost 60-90 days after listing when compared to Arlington area. This market also have a witnessed an upward trend and also have a good supply of homes.
Houses that are available in this region is witnessing a rise of 0-5 percent from last year. The first time house buyers are the ones who are driving the real estate market as there is a growth in the job market. In fact, mostly sellers are able to fetch 95-100 percent of the asking price.
Another option that people can opt for in the Virginia real estate is South Virginia beach. This area is conveniently located near the Norfolk. This real estate market also has more sellers than the number of buyers. Again the market is not showing any great changes as the homes in this area usually sit for 60-90 days before they get sold. There is also a very good supply of homes available in all price ranges. In fact, the sellers are also able to fetch 90-95 percent of the asking prices. These days, the single family home are in most demand in these areas.
Rise in population is one of the reasons why the real estate market is growing at a rapid pace in this region.
In fact, if some is interested in investing in the real estate market of the Norfolk area, there is an increased rate of activity as there are more number of buyers than the sellers. The houses are getting sold within a months time of getting listing and also the inventory is quiet tight. The prices of the houses are seen an upward trend by 10-15 percent. This area is pretty close to the Norfolk naval base so people working there can look for houses here.