How’s the market?
At the start of every year, we pour through sales charts, look back at our goals, and check how we’ve done on our predictions for the past year. We do our best to prepare our agents for the new year. As we hit the halfway point of 2020, we can confidently say that we did not see this coming! However, by all accounts, the 2020 real estate market has fared much better than expected.
We present you with our 2020 Fredericksburg Mid Year Market Report.
From an economic standpoint, there is no question that a year ago we were expecting higher interest rates and a slowing (not severe, but noticeable) of our real estate sales market. With the injection of COVID-19 into our lives, we definitely expected some sort of effect on the overall market. This just didn’t happen in much of the country. The Northern Virginia region has continued to see a boom in real estate sales. Interest rates have dropped to all-time historic lows, and homes are selling fast, while inventory has remained low. As we look forward to the next six months of 2020, we will continue to monitor this historic real estate market and adapt as needed.
We’re here for you. Feel free to reach out directly to your Nest Broker.