Amazon recently announced Crystal City, VA as home for one of of its two new headquarters and promised 25,000 new jobs and taking an "average" of their news releases at least 50% of these will be well over six figure salaried positions. What will this mean for the Northern Virginia housing market?
Especially in side the beltway we can expect home prices, to include single family, townhomes, and condos to substantially increase. We can also expect rentals (including apartments and condos) to increase as well. This is excellent news for current homeowners as it points to increased equity in their homes.
When the jobs begin to show up is unknown at this point. But, for folks considering a NOVA home purchase, this may also be the window of opportunity to purchase their home and realize an equity gain as the influx of jobs and money occur. If you would like to discuss your situation and options call or email us anytime.