Sellers happy, buyers concerned about Va. real estate

WASHINGTON — List prices in northern Virginia are far above the average for the last 15 years, even as more homes enter the market.

A new Roanoke College poll suggests sellers are more optimistic in the D.C. region than in many other parts of the Commonwealth. Buyers in northern Virginia are still positive about the market, though not as much in other parts of the state.

Statewide, the vast majority of Virginians surveyed believe the real estate market has improved over the past year.

Some 64 percent of Virginia residents feel the condition of the real estate market has improved since last year. Conversely, 17 percent believe the market has worsened.

And 52 percent of those surveyed feel conditions will improve over the next year, while 14 percent believe the market will decline.

The economy hasn’t fully recovered yet, so why are Virginia residents so confident? For one, the labor market in the area is strong. The unemployment rate is 4.7 percent, slightly below the national rate of 5.1 percent.

Housing inventories are increasing across Virginia, likely due to fears of future rate hikes. In February — the most recent value — the average listing price of a home was about $20,000 higher than a year ago and higher than its 15-year average.

The poll of 608 Virginia adults was conducted last month.

WTOP’s Max Smith contributed to this report.

Alejandro Alvarez

Alejandro Alvarez joined WTOP as a digital journalist and editor in June 2018. He is a reporter and photographer focusing on politics, political activism and international affairs.

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