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Affordable Housing
The Prince William Board of County Supervisors voted Tuesday to approve a rezoning request allowing a long-vacant property near I-95 to be developed as an affordable housing townhome community.
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Go to A Closer Look: The Big Fight Over Attainable Housing at The Landing at Cannon Branch
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“Ten years ago, the average age of the first-time-homebuyer was 28, and so this is a big jump and it’s a signal that it’s really, really hard for folks to get into the housing market right now,” NBC Washington reported. “The median price for a single-family detached home in Fairfax County is almost a million. It is over $1.25 million in Alexandria and in Arlington County,” Sturtevant said. “You do need an income of about $300,000 if you do sort of some back-of-the-envelope math on taking on a loan with 10 percent down — it is very hard.”
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FREDERICKSBURG, Va. – The folks at the Fredericksburg Area Association of Realtors just shared their latest housing report with Potomac Local News—and it’s a mixed bag for buyers and sellers.
Even though more homes are hitting the market, sales have slowed compared to last year. Just 491 homes sold in August, down about 8% from 2024. But prices? Still going up. The median home price jumped over 5% to $485,750.
FREDERICKSBURG, Va. – The folks at the Fredericksburg Area Association of REALTORS just told Potomac Local News that home prices in our region hit an all-time high last month—even as sales slowed and homes took longer to sell.
July’s median home price reached $490,000, a 3% jump from last year’s $473,740. That’s despite local agents saying the pace of deals has cooled a bit. A total of 543 homes sold—slightly more than last July—and total sales volume surged over 11% to nearly $298.9 million.