First Week of 2023 Market Update

Each week I will share an update of the local real estate market and what has been happening with new listings, under contract homes and sold homes.  

I will also share what I have been hearing from other agents and what I have been experiencing in the market.

There is an uptick in activity since the new year began. More attendance at open houses, multiple offers on new listings and an over all optimism about 2023!

Specifically in Loudoun County 56 new listings came on the market last week and there are over 350 homes for sale in the county.

Other Stats include:

29 Coming Soon Listings

9 Homes Sold Since January 1st with an average sales price of $754,000

7 Homes went under contract since the 1st

The first week of 2023 is showing promising activity to set the tone for an active real estate market this year.  It is still looking like a seller's market with more buyers than there are available homes.

Today's mortgage rates are hovering between 6-7%.  Rates will vary on an individual basis and there are programs to help you buy down rates to reduce your monthly payment.