Author: Scott McCaffrey

Mortgage-interest rates that cool even a little bit could have an impact on the local real-estate market, a new analysis suggests.

“There is potentially a group of ‘shadow’ buyers waiting in the wings, waiting for mortgage rates to come down,” noted Lisa Sturtevant, chief economist for Bright MLS, in an analysis of current market conditions.

Ellen Dyke and SPARC executive director Debi Alexander honor state Sen. Janet Howell at the June 10, 2023, pancake breakfast put on by the social-safety-net organization. [SPARC photo]

Retiring state Sen. Janet Howell was honored with the Hero Award at the second annual pancake breakfast presented by SPARC, a Fairfax-based non-profit that provides day programs for adults with disabilities.

Girls on the Run of Northern Virginia hosted its biannual 5K celebration weekend with events on May 20 at Fair Oaks Mall and on May 21 at BASIS Independent School in Tysons.

More than 4,000 runners took part in the two-day event, which also marked the completion of the 10-week season for participants in the Girls on the Run program, which teaches critical life skills through social-emotional lessons and physical-endurance training.

Fairfax County’s jobless rate dropped three-tenths of a percentage point from March to April, according to new state data, and stands among the lowest in the commonwealth.

With 644,873 residents counted with jobs in the civilian workforce and 14,021 looking for them, Fairfax’s unemployment rate of 2.1 percent in April was down from 2.4 percent in March, and was unchanged from a year before.

Though down from March, Fairfax County’s average sales price for single-family homes was over the $1 million mark for the second month in a row and the third time since the market peak of last summer.

The average sales price of a single-family home across Fairfax County in April was $1,053,142, up slightly from a year before, according to figures reported by MarketStats by ShowingTime based on listing activity from Bright MLS.

The third year of the Global Leaders of Fairfax County program concluded with a ceremony May 21 at Oakton High School recognizing 110 Fairfax County high school seniors for successfully completing the program.

The initiative, founded in 2020, aims to prepare “fellows” in the initiative to be global citizens and change agents in their local community and the world.

Sellers of a typical Fairfax County single-family home or townhouse generally got more in April than a year before, while condo sellers had to settle for less, according to new data.

A total of 994 properties went to closing across the county last month, according to figures reported by MarketStats by ShowingTime based on listing activity from Bright MLS.

The Virginia 11th Congressional District Democratic Committee recognized this year’s winners of various accolades at an April 16 brunch reception.

“They are clearly dedicated individuals who support community service, the labor movement and Democratic values,” said committee chairman Robert Haley.

Home-buyer activity across the GazetteLeader coverage area last month was highest in the town of Vienna, according to new data, but proved slower in many other areas.

Things were slightly better across the broader Fairfax County market, as prospective buyers came out of winter hibernation in search of homes despite the current inventory crunch.

April marked the 17th consecutive month of year-over-year home-sales declines in the Washington region, as well as the second straight month (and third month in five) of falling median sales prices.

Yet with extremely limited inventory – there are just one-third the single-family homes on the market compared to pre-COVID – the local market seems in no danger of freefall, according to analysis of new data.