Real Estate Market Trends Haymarket VA

Here are the real estate market trends for the Year to Date (YTD) 2017 in Haymarket VA …

In our Fall 2017 issue of Haymarket Homeowner, we take a look at what younger home buyers in the market are looking for in community and home. We are finally starting to see the Millennial generation hit the home buying market, so I thought it might be interesting to see if there is an impact in the real estate market trends for home sales in our area.

RELATED: See How Do We Attract Millennial Home Buyers to Haymarket

Without further research and data, it’s hard to know exactly what the age range is for recent home buyers. But, in a general sense, it is safe to assume that most younger buyers and first-time home buyers are buying homes between $300,000 and $500,000, and in our area that is predominantly townhouses (attached homes).

As we look at the real estate market data for 2017 year to date, with the exception of Gainesville, attached home sales has increased over 5% in Prince William County and over 11% in Haymarket!

But, before we go too far with this, all home sales have increased in these areas, it has been a good year for home sales in general. But, it is worthy to note that the Average Sold Price of attached homes went up substantially, in fact at a higher rate than detached homes, in all three regions. This means the demand for attached homes has increased.

The other good news is the Days on the Market. The Median Days on the Market continues to drop in our region, especially in Haymarket, it dropped from 42 days to 20 days.

While higher priced, larger homes still lag behind in Days on Market, there were 6 home sales this year in Haymarket and 3 in Gainesville priced over $1 million.

RELATED: See all Homes for Sale Right Now in Haymarket and Gainesville

See this article in the Fall 2017 print issue of Haymarket Homeowner

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