HQ2 Announcement Boosts Local Real Estate Market

The following article excerpt is from our content sharing partner, FairfaxNews.com.

Amazon’s pick of Crystal City for part of its HQ2 expansion put a jolt of caffeine in November real estate activity, the Northern Virginia Association of Realtors reports.

“The pleasant surprise from November’s housing market data was a significant pop in new contracts,” said Derrick Swaak, managing broker of TTR Sotheby’s International Realty in McLean. “New under-contract sales jumped nearly 90 percent in the NVAR footprint, which means that a buyer’s offer has been accepted by the seller. Some of that increase was a reaction to an unexpected, but welcome, retreat of mortgage rates in the second half of the month, plus a frenzy of condo buying activity in the areas surrounding Amazon’s new HQ2 location in Crystal City.” […]

“While there is speculation about the real estate market showing signs of softening nationwide, our Northern Virginia data still reflects a promising direction,” said NVAR CEO Ryan Conrad.

Read more at FairfaxNews.com

Recent Stories

With many restaurants struggling due to the COVID-19 pandemic, a group of McLean residents created a group called McLean Cares to try to help keep their local eateries afloat. Inspired…

(Updated at 2:30 p.m.) The Fairfax County Courthouse is renewing its mask policy once again even as the judicial system tries to inch back to normal amid a backlog of…

This week’s Pet of the Week is Tootsie, a sweet bunny who, though at times is shy, loves being hugged and exploring.

Two Fairfax County organizations have been awarded grants from a national nonprofit aimed at increasing access for food service programs for children and their families. The Falls Church-McLean Children’s Center…

×

Subscribe to our mailing list