Gainesville, VA – Real Estate Market 2019

Gainesville, VA – Real Estate Market 2019

Gainesville, Virginia is drawing people into its city limits for plenty of reasons. Gainesville has been called one of the best places to raise a family with its neighborhood settings and access to family resources. The city’s location makes it ideal for those who work in or around Washington D.C. and also offers a better price-point than D.C. could ever hope to provide. Strict development laws in this county, and others around it, ensure that Gainesville will stay a beautiful city for years to come.

If you’re considering a move within or into Gainesville and are curious about the real estate market, you’ve come to the right place. We are going to look at what the market has done in the past few months, as well as what the predictions are for the rest of 2019. Let’s get into it.

Real Estate Stats for 2019

From mid-December 2018 to mid-March 2019 the Gainesville real estate market saw a 6% year over year rise. Just in that period (Winter mind you), there were nearly 100-home sales with a median price just shy of $450,000. At $202/square foot, this is a 4% rise from the same period last year. Homeowners spend north of $3000/year on property taxes depending on the location of the home. 92% of people living in Gainesville are homeowners and are around the age of 32-36 years old. According to recent data, houses don’t stay on the market too long and average just over a month before they have an offer. Real estate professionals say that supplies of homes are down, making the competition to buy a little more stiff to get into the market.

The hottest neighborhoods in Gainesville are:

  • The area of – Lee Hwy / Old Linton Hall Rd
  • Catharpin / Groveton neighborhoods
  • The area of – Linton Hall Rd / Bridlewood Dr
  • And Town Center

Real Estate Market Forecast for 2019

If you want to get into the Gainesville, VA market; now is the time. Predictions are that the market will grow significantly due to tech jobs that have already started to set up shop. Amazon HQ2, for example, is set to hit the Northern VA market bringing with it more jobs and income.

The ‘not as great news’ is, interest rates are climbing drip by drip. This will make it harder to qualify for some and increase month to month payments across the board. Last year interest rates were 4% and going into 2019 they are 5%. That is a 10% increase for those paying a monthly mortgage rate. The good news on this, however, is that prices are still low enough to get a solid deal knowing that real estate values are climbing.

Commercial real estate is also looking good as major chains and investors are throwing their money into the Gainesville market anticipating the growth in residents.

Helpful Links When Moving to Gainesville, VA

Are you moving to Gainesville, Virginia? We thought we would wrap up by giving you some important resources to help you do that faster.

Prince William County – Public safety, resident and business services, recreation, and more.

City of Gainesville, VA – City services, government works, live streaming video.

A Look Back – Historical data about Gainesville that might be of interest.

Can we help you with a home inspection? Lambert Home Inspections would love to be a part of your new home purchase and be one of the first to welcome you to the neighborhood. Let us know if we can help you.