The Northern Virginia Association of Realtors has revised its initial forecast for this year’s home appreciation projections in Arlington County to 17.2% (WTOP, 06.13.19).
“This is a market response to the Amazon HQ2 announcement with investors competing with residents for a shrinking number of homes for sale,” said Terry Clower with the Northern Virginia Association of Realtors on the market forecast.
The number of homes sold in Northern Virginia for May of 2019 was at its highest level in 14 years. Areas including Fairfax and Arlington counties, Alexandria, Fairfax and Falls Church experienced a surge of demand from buyers and investors alike.
Fred Schnider Investment Group is partnering with Madison Homes on two upcoming home communities that will satisfy some of this demand. Abingdon Place, a community of 19 luxury townhomes will be coming to Old Town, Alexandria in Spring/Summer of 2020. The homes will include in-home elevators, rooftop terraces and two-car garages, among other features. There will also be a community of 19 townhomes coming to North Arlington’s Trenton Street with the first units set to deliver in late 2019. The townhomes will be four-story, two-car garage with loft level and outdoor terrace.