If you’ve been watching the real estate market in Northern Virginia, you know things are constantly shifting. Whether you’re a first-time homebuyer, a seasoned investor, or looking to sell, staying informed is crucial. That’s where experienced Realtor Mark Worrilow of Fathom Realty comes in. With his deep knowledge of the local market and an eye on mortgage trends, Mark helps clients make the best decisions in a competitive real estate landscape.
Mortgage Rates are Trending Down
One of the biggest concerns for homebuyers is mortgage rates, and the good news is that rates have been trending downward. Mark points to the latest numbers, showing that conventional loan rates have dipped to 6.59%, with VA loans falling below 6.15%. FHA loans have also seen a decrease, making homeownership more accessible for many buyers. While Jumbo loan rates remain near 7%, Mark remains optimistic that the overall trend is moving in the right direction.
“For buyers who have been hesitant due to high interest rates, now may be a great time to revisit their options,” says Mark. “We’re seeing a slow but steady decline in mortgage rates, which is encouraging for both buyers and sellers.”
Market Trends: Prices Remain Strong, Inventory is Growing
According to Mark’s research, home prices across Stafford, Spotsylvania, and Prince William counties, Manassas, and Manassas Park cities are holding steady. In Stafford, the average home price for March 2025 is $662,000, while Spotsylvania sits at $652,000, and Prince William, Manassas, and Manassas Park average at $678,000. While prices are still high, the pace of appreciation has slowed slightly, making it easier for buyers to find a home without experiencing extreme bidding wars.
Additionally, inventory levels are improving. According to data from the Fredericksburg Area Association of REALTORS® (FAAR), active listings jumped 21% year-over-year, from 661 homes in February 2024 to 795 in February 2025. However, new listings are down 12%, and pending sales have dipped 10%, signaling that buyers are becoming more discerning in their choices.
Multiple Offers Still a Factor, But Cash Offers Less of a Concern
Even with inventory increasing, buyers should still expect some competition. “The market remains strong, and while more homes are available, we’re still seeing multiple offers in certain price ranges,” Mark explains. “That said, the fear of being constantly outbid by cash buyers seems to be easing.”
Recent market data shows that conventional loans are the most common financing method across Northern Virginia. For example, in Stafford, there were 47 conventional loans closed in March 2025 compared to 36 VA loans and 14 cash offers. In Prince William, Manassas, and Manassas Park, there were 178 conventional loans closed versus 49 VA loans. This suggests that many buyers— including veterans—are able to put down more substantial down payments, making them competitive in the market.
Why Now Might Be the Right Time to Buy or Sell
For those wondering if it’s time to jump into the real estate market, Mark outlines three key takeaways:
Home prices are still strong – While appreciation has slowed, values remain high, making it a great time to sell.
Interest rates are dropping – Buyers who were priced out in 2023 and early 2024 might find that they now qualify for more home.
Inventory is increasing – With more options available, buyers have a better chance of finding a home that fits their needs without feeling pressured to settle.
Let Mark Worrilow Guide You Through the Process
Whether you’re buying, selling, or just trying to figure out your next move in the real estate market, Mark Worrilow has the expertise to guide you. With decades of experience and a deep understanding of mortgage trends and housing data, Mark ensures his clients have the knowledge they need to make confident decisions.
Ready to explore your real estate options?
Contact Mark Worrilow of Fathom Realty today!
(703) 244-8702
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