Thank You For an Amazing Year

Happy holidays! If you know anyone who is looking to sell their home or would like to join our awesome team, we’ve got a couple opportunities for you.

Buying in Northern Virginia?  Get a Full Home Search Here

Selling in Northern Virginia? Get a Free Home Value Report Here

I hope you had an amazing 2017 and that you hit all your goals for 2018. I just wanted to take some time to talk about the great year we’ve had, let you know about a couple opportunities we have available to you, and give you our sincerest gratitude for your support this year.

We have a brand-new inside salesperson in training today, and I’m really excited about the year we’ve had in 2017. Last month alone, we set over 100 buyer appointments for our agents, meaning we had 700 people register on our website. If you know anyone who is thinking about selling their home, we might have a buyer for them right now. We’d love to help them out.

If you know anyone who is thinking about selling their home, we might have a buyer for them right now.

I recently had an amazing trip to Seattle. I was invited by Zillow to come check out their headquarters. I got to see their operation, learn some of the great things they’re doing, and also learn about recruiting new people. We’re always looking for talented agents, admins, ISAs, cold callers, and more. If you or anyone you know is looking for a great team to join, please contact us.

Finally, I want to thank each and every one of you for working with us in 2017 and for the referrals you sent us. I truly appreciate it from the bottom of my heart.

I hope that you have a merry Christmas, a happy New Year, and that you crush all of your 2018 goals. Feel free to shoot me a message; I’d love to take you out to Starbucks, catch up, and see how things are going. Happy Holidays!

How Do This Year's Sales Prices Compare to Last Year?

It’s time for a look at some market statistics. Let’s find out how last year’s numbers compare to what we see today.

Buying in Northern Virginia?  Get a Full Home Search Here

Selling in Northern Virginia? Get a Free Home Value Report Here

Today I want to take a look at a few market statistics and see how things today compare to where we were at last year.

In Prince William County, the average sales price this time last year was $337,000. This year, that number has gone up to $350,000. In 2016, Fairfax County saw an average sales price of $480,000 compared to this year’s $500,000. 

Stafford County’s average sales price in 2016 was $310,000. Now in 2017, the average has gone up by $20,000—now sitting at $330,000. Loudon County saw the same amount of growth, going from $440,000 in 2016 to $460,000 in 2017. 

In Culpeper County, the average sales price was $261,000 last year. In 2017 the average is now $275,000. 

Warren County has also gone up slightly. The average in 2016 was $212,000 and in 2017 is now $216,000.

While this growth in average sales price has been consistent across the board in our local areas, the growth in Fauquier County specifically is impressive. There, the average sales price has gone from $358,000 in 2016 to $389,000 today. 

As you can see from these numbers, we’re experiencing a steady growth of about 3% a year. This points to a healthy market, which is always a great thing.

We’re experiencing a steady growth of about 3% a year.

Lastly, I wanted to announce that our team is growing, too. If you or anyone you know has been thinking about a career in real estate, we ask that you visit our website: www.JoinTheColganTeam.com. 

We’re seeking talented, motivated individuals who have what it takes to become a part of our family. Last year alone we had 800 people register on our website to help with their real estate needs. 

Additionally, we are always happy to take referrals. Whether you’re looking to buy or sell, we want to help you succeed in your real estate goals.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Our Market Forecast for 2017

This has been a great year for our real estate market. However, next year could be even better.

Buying in Northern Virginia?  Get a Full Home Search Here

Selling in Northern Virginia? Get a Free Home Value Report Here

The new year will be here before you know it. We wanted to take a quick moment today to give you a forecast for what to expect from our real estate market in 2017. 

The outlook for 2017 is looking good, according to The Mortgage Banker’s Association. We have sold about 5.8 million homes so far this year, and The National Association of Realtors is predicting six million homes will sell in 2017. Fannie Mae and Freddie Mac both predict we will sell around 6.2 million next year.

We look forward to a great year in 2017.

The reason for this quick uptick in sales is that millennials are finally buying homes instead of renting them. Many of these buyers are starting to purchase homes after paying off their student loan debt, so that’s what’s going to be drive the uptick in home sales. 2017 is projected to be a really good year, and we’re certainly excited about that.

We have had a great year so far in 2016 and we look forward to an even better one next year. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

What Are the Latest Numbers in Northern Virginia?

Buying in Northern Virginia?  Get a full home search here

Selling in Northern Virginia? Get a free home value report here

A lot of exciting things have been happening lately in Northern Virginia. Our team continues to grow; in fact, we just moved into a new office space. We also recently found out that we were ranked the #23 real estate team in Virginia by RE/MAX.

Today we want to give you a quick update on how the various markets around Northern Virginia are performing. We will be discussing the median sale price and the average days on market to give you an accurate portrayal of our market. 

Fauquier County

The median sale price is up 4% from 2014, and now sits at $362,000. The average days on market here is 75 days.

Prince William County

The median sale price here is $344,000, only up 1% from last year. As for the average days on market, it is only 40 days.

Fairfax County
The median sale price in Fairfax County is $495,000, right around where it was at this time last year. 

Loudon County
In Loudon County, the median sale price is down 2% from 2014, and the average home here is taking just 44 days to sell.

Stafford County
This area has seen a ton of growth, as demonstrated by its 8% rise in average sale price from last year. The average days on market here is about 60. 

We hope this update has been of use to you. If you have any questions for us about the market, we are always here to answer them. We look forward to hearing from you!

How Can Waiting to Buy in Northern Virginia Cost You?

Northern Virginia is an ideal location with an excellent variety of homes that are situated within a vibrant real estate market. If you to want to look over all the properties currently listed within the area, go here to perform a full home search, or if you're interested in seeing how much your property is worth, click here for a free home value report. For any other questions regarding your property's value or the market conditions of Northern Virginia, do not hesitate to call Chris at (703) 485-1435.

Hello, and welcome back to the blog! Today, we want to discuss the 3 reasons you should buy before the spring season hits! Let's get right to it:

1. Prices are on the rise: A survey of the top economists in the country found that they expect prices to increase by 15% to 30% over the next 5 years. It's always good to get into the market before the busy season starts and competition negatively impacts affordability.
2. Rates are at historic lows: Interest rates are expected to rise over the course of the year. While they're not expected to rise dramatically, even a normal jump in rates can have a big impact on your wallet. 
3. Renting is costing you: If you're renting, you're missing out on the potential to write-off your mortgage interest when filing your taxes. With conditions as good as they are, now is the time to start building equity!

Are you still on the fence about buying? If so, you can't wait much longer, as market conditions are currently about as good as they get. If you want to sit down and discuss your options, don't hesitate to reach out to us. We would love to help you take advantage of this wonderful market!

Northern Virginia Real Estate Market Update for Fall 2014

Chris Colgan is a seasoned real estate agent whose familiarity with the Northern Virginia area spans his entire life. If you're a prospective buyer who wants to survey all the listed properties in Northern Virginia, click here for a full home search, or if you're considering selling you property, get a free home value report right here. Feel free to contact Chris at (703) 485-1435 for any questions you have about your own property, or the current state of the Northern Virginia real estate market.

We are back, with another market update here for the local market in Northern Virginia. While there are a certain "hot pockets" or hot areas for real estate,  overall we are starting to see a bit of a slowdown in the market. Here are some stats that show what we mean:

• Closed sales are down almost 5% from last year

• The median sale price is down 1% from last year

• The median number of days on market has increased by roughly 50%

These numbers are a result of some inventory starting to accumulate in certain areas. Real estate is a hyperlocal business, so each neighborhood is different. We highlighted a few counties here to demonstrate how numbers in a certain area aren't always indicative of what the numbers in a different area will be like. 

Prince William county

 Home prices are up 8%, which is good, but the number of sales are down 2% and the average days on market is up 50%.

Stafford County

 Average sales price is down 6% and the average days on market is up 53%

Fairfax County

 In Fairfax County, there has been a 53% increase in days on market and the average sales price has risen by $25,000 over the last year. 

Fauqier County

 This looks like the strongest County in the area right now. The average sale price is up by $40,000. The average days on the market in Fauqier County is actually down 15%. This is one of the only areas we have seen where the sales price has increased while the days on market have decreased. 

With Fauqier County being the exception, we are seeing a pretty significant slow down for the market and its inventory. If you have any questions for us, please feel free to give us a call or send us an email. We'd love to assist you.

Northern Virginia Real Estate Agent: Spring Market Report

Chris Colgan is a seasoned real estate agent whose familiarity with the Northern Virginia area spans his entire life. If you're a prospective buyer who wants to survey all the listed properties in Northern Virginia, Click Here for a Full Home Search, or if you're considering selling you property, get a Free Home Value Report Right Here. Feel free to contact Chris at (703) 485-1435 for any questions you have about your own property, or the current state of the Northern Virginia real estate market.

Welcome to My New Real Estate Video Blog!
Today I wanted to give a detailed recap of the current market conditions in Northern Virginia, and what both buyers and sellers can expect in the near-term.
 

As you will see from the graph displayed in my new video, inventory is relatively low, which I believe can be attributed to lower interest rates, leading many homeowners to refinance and remain in their current homes. 
 
Let's Run the Numbers.

An additional table that I also show in my new video gives a statistical overview of the year-over-year changes we’ve seen in the market from 2013 to 2014 for the month of February:

•  4% decrease in closed sales:
• February 2013 – 1,901 
• February 2014 – 1,812

•  2% increase in median sold price:
• February 2013 – $382,000 
• February 2014 – $390,000

•  4% increase in average sold price:
• February 2013 – $436,433 
• February 2014 – $455,060

What This Means to You.
With a decrease in inventory, complimented by a subsequent increase in both median and average sold price, the current activity of the market is favoring sellers, as they have less competition from a diminished inventory, which in turn leads to higher offers from more buyers.
 
Let's Work Together!

To stay up-to-date on current trends in the Northern Virginia real estate market, follow my new video blog as we provide updates every two weeks on market conditions.
 

For any other questions, feel free to visit my site or contact me directly, as I will be more than willing to assist you whether you’re looking to buy, or sell.