January 2016 Regional Market Update: The DC regional housing market saw a 2.5% dip in median sales price from January 2015 (From $385,000 to $375,500). Sales activity (up 5.8%) and volume (up 2.7%) remained strong. We saw a decrease in pending sales and new listings, likely due to the historic storm.
NOVA Market Update: Northern VA home prices remain stable. Fairfax County median sales price for January was $444,000 up 1.1% year over year.
Rate Update: Good news for buyers! Rates are still not rising at the rates anticipated when the Fed made changes in December. The current rate for a 30 year fixed mortgage is 3.72%
