Northern Virginia Real Estate and Community News Blog

Spring Real Estate Market Update

System - Wednesday, May 10, 2023

Sales of new and existing homes continue to be at a level lower than we've seen for the past two years - and prices continue to rise! Specifically here in the Springfield and Burke area, we are seeing that homes with nice updates are going under contract in a weekend with multiple, escalating offers - it's still happening. 

However more and more I'm seeing homes that lack updates sitting longer on the market and even dropping price. It's a somewhat strange market. Those who are able to buy are not quite as desperate as they were during the COVID years, but still willing to pay top dollar for the right home in the right neighborhood and school zone. 

Here at Key Home Realty Group we have a steady inventory of coming-soon sales listings in fantastic neighborhoods, including Olde Towne Alexandria, Franconia, Springfield and Burke, as well as Herndon and Kingstowne. Our agents are busy working with buyers as well. We are feeling blessed!

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