In Virginia, you can choose from many desirable markets. In this article, I’ll look at the Tidewater, Mclean/Great Falls, and Annandale markets. As a new investor, it’s best to consider all of these areas and their real estate markets before deciding on one. In addition, you can learn more here about the tax advantages of investing in real estate in Virginia.
Virginia Beach
Although mixed reviews have been published about the real estate market in Virginia Beach, it is a popular beach city that has many benefits. The housing market in this city is large, with a wide variety of single-family homes, condominiums, and rental apartments. As the area’s tourism increases, key beachfront locations tend to be popular with tourists. However, the town’s appreciation rate has fallen below the national average over the last decade. The average annual home appreciation rate in Virginia Beach has been 3.87%, a rate lower than nearly 70 percent of other US communities.
Tidewater
The area of southeast Virginia known as Tidewater is a good place to invest in real-estate. The region is home to several cities and towns on the Chesapeake Bay, including Norfolk and the Hampton Roads area. In addition to great fixer-upper deals, Tidewater also has a steady supply of solid rental properties. Many of these properties are still at an affordable price point.
Mclean/Great Falls market
The McLean/Great Falls real estate market has changed dramatically in the last decade. From 2011 to 2021, sales increased by nearly 70%. The market is more competitive in the upper bracket, which accounted for about 25% of sales in 2011. Despite this, the market continues to enjoy “best of times” market conditions, with median sales prices up over 2015 and over the last peak cycle in 2006.
Annandale
If you are looking for a real estate investment opportunity, Annandale, Virginia is a great choice. It offers a family-friendly atmosphere and a diverse population. You can find a wide range of homes for sale. The median home value in this area is $460,000. To get the best deal, you will want to work with a reliable lender. With smart technical real estate market analysis, you can find a home that is priced right for you.
Burton Station
Burton Station, Virginia, is a great place to invest in real estate for many reasons. For starters, it is located near Norfolk International Airport, which is convenient for business travelers. Because of its location, it also draws young professionals and families looking for a suburban feel. Additionally, the neighborhood is bordered by residential areas that are mostly occupied by students. In addition, it is close to major cities such as Norfolk, which makes it convenient for frequent business travelers.
Colonial Heights
If you’re looking to buy a home in Colonial Heights, VA, you’ll be pleased to know that there are currently 99 homes for sale. Of these, eight were newly listed in the past week. There are several different types of homes for sale in this city, ranging from $1K to 2.1K per month. You can narrow down your search by choosing from homes that have recently sold or have been reduced in price. You can also look for homes that have been recently built, foreclosures, and new home communities.
Oakton
Despite the recent slowdown in real estate, Fairfax, VA still offers great investment potential. The latest appreciation rates for Oakton homes were below 90% for all cities in Virginia. Of course, these numbers only represent the average. There are differences between neighborhoods, so the best way to find investment properties in Oakton is to use a tool like NeighborhoodScout.
Del Aria Team
T25SA, 3975 Fair Ridge Dr, Fairfax, VA 22033
(703) 499-0111
https://delariateam.com/