Most affordable real estate markets in Northern Virginia
We are about to explore affordable real estate markets in Northern Virginia because as you can see the prices are very high right now. Even though experts predicted the crash of the real estate market thought the USA back in 2020 (because of the pandemic) nothing significant happened. Now in 2022 prices are very high and we need to do serious research to find some affordable places in this area. Of course, the reason why the prices are high is that this area is very desirable.
Will the prices drop?
This is the most common question we have encountered during this research and unfortunately, we don’t have good news for you. When it comes to single-family homes it looks like the prices will continue to rise in 2022. For you, that means you should hurry up and get a place for yourself before the prices become really high. But if you look at it from another angle, whatever the price you pay now – your place will be worth much more in a few years. So that is a good thing here.
When is the best time to buy a property in Northern Virginia?
Before we show you what we found out, we just wanted to tackle the most common questions since you are probably wondering about this too. Experts usually say that winter is the best time to buy a property (wherever) because the prices are at their lowest then. But, and this is a big but in this area, you might want to wait until the spring. That way you will be able to take advantage of the increased supply.
This is obvious but since we are talking about affordable we need to talk about suburbs. They can offer you a more peaceful way of life, cleaner air, and more affordable housing. Let’s not forget lower crime rates and more affordable housing solutions. Now let’s are some of the good and yet affordable suburbs in this area since we are talking about affordable real estate markets in Northern Virginia. If you have kids and what to be near good schools and still live in an affordable suburb we suggest you research :
- Arlington Ridge
- Ballston-Virginia Square
- Lyon Park
For seniors, we suggest suburbs like Mantua, Wolf Trap, and Wakefield.
The most affordable place in Northern Virginia
The most affordable town in Northern Virginia is Leesburg. If you are assuming that this is a bad place to live since it’s pretty cheap you couldn’t be more wrong. This is a great place to live. One of the best. But it’s not for everybody (just like any other place). This town has some decent job opportunities and some really good schools. When it comes to nightlife – it’s not so great. This is a more peaceful place, but there is plenty of entertainment during the day. If you want to live in a small town that is technically a suburb of Washington and not be worried too much about the costs this is the place for you. If you want to relocate here, call Zippy Shell DMV to help you out.
Those looking for affordable real estate markets in Northern Virginia need to check out Herndon. Besides being affordable this town is perfect for young families. The residents here are very friendly and you won’t have any problems making new friends here. This is a very safe community and they have great schools so make sure to research this place as well. Herndon can also be a good place for young professionals because you can find a lot of good job opportunities there!
Even though we are talking about the most affordable real estate markets in Northern Virginia you should consider Pulaski
If you are willing to go south this is a perfect place for you. The housing market is the cheapest in this town. In fact eve since 2020, this town has had the cheapest housing market according to HomeSnacks.net. If you don’t mind the suburban feel this can be a great place to buy a property and live. Many seniors enjoy their retirement here. This mountain town can be a perfect place to invest in real estate because it is becoming very popular. Of course, part of the town’s popularity is due to the low prices but since 2020 many new businesses came to this place and the whole town is slowly building. That can only mean that the prices will inevitably start to rise in the next couple of years so take your chance now while you still can.
Since we are on the lookout for affordable places you should know more about them. This year, the median sold price of homes was $625,000 which is higher by almost 5% than the last year. Now that you have some price in your mind you can start looking at real estate. We suggest you start on Zillow.com. This is the perfect way to start your research just like looking and online moving reviews is the best way to get to know the moving company you chose. Then when you figure out what you want you can call a realtor. They have a way of getting you a better price. It’s what they do.
There was a significant housing shortage in the last two years in this area and that is the reason for the problems with prices. That is not the case in the rest of the state. Just this area. That can be a perfect opportunity for investors.