REAL ESTATE IN MANASSAS
Manassas, Virginia Real Estate has done well in 2013 and continues to look good for the spring, 2014. The number of properties selling has greatly increased and value has gone up. The spring market is just starting; the weather is getting better and now is a good time to think about buying or selling your home!
In the Cavalry Run and Country Place neighborhood, 2013 was an exciting year of growth with a 300% increase in sales over 2012! 2013’s sales record was the strongest year in this neighbor for the last 5 years. In the last 12 months 21 single family homes have sold and closed. Not only that, but Northern Virginia is experiencing a growth in sales and prices! Virginians believe that the condition of the real estate market has improved since last year, a 5- point improvement since November 2013. Also Virginians believe that conditions will improve over the next year, a 3 point increase since November.
Currently there are 45 single family homes for sale in Manassas, Virginia which is zip code 20110. There are 33 houses under contract and waiting to close. In the last 12 months 281 single family houses have sold and closed, a huge increase over the last year.
The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5 percent by this time next year. That is an increase of almost one full point over current rates. A one percent increase in mortgage rates decreases your buying power by 10 percent. As spring approaches, the price of homes for sale typically increases so it really is the time to buy now!
I love Manassas! It is only 30 miles from Washington DC and it is full of rich history including the Manassas Junction rail-line and the Civil War. Life if good in Historic Downtown Manassas with its wonderful entertainment options, restaurants, antique and specialty shops, festivals and parades and thriving business community.
If you are considering moving to Manassas, Virginia or selling your property you should speak with me an active realtor in the Manassas area with RE/MAX Gateway. Manassas is my neighborhood and RE/MAX Gateway has some of the most experienced real estate agents in Northern Virginia!
Let me know if you would like a free and no obligation market analysis of your home’s value, a market plan of how I could get it sold for you for the best value or how I could help you find the home of your dreams.
Marcia Goodman, Realtor
7521 Virginia Oaks Drive #100
Gainesville, VA 20155