Elite NewsFeatured April 11, 2024

Coldwell Banker Elite Named President’s Club Award Winner by Anywhere Leads

Stafford, VA, April 11, 2024 – Coldwell Banker Elite has been named a President’s Club Award winner by Anywhere Leads for its outstanding performance during the past year. Anywhere Leads is a dedicated organization within Anywhere Real Estate Inc., the largest full-service residential real estate services company in the United States, focused on delivering high-quality leads to its affiliated brokers and agents in the Anywhere Leads Network.


The President’s Club recognizes the top 25 performers across the Anywhere Leads Network of over 500 brokers. This prestigious annual award honors the top 5% of Brokers nationwide across the Anywhere Leads Network. Award criteria are based on rigorous scoring and success in a variety of performance metrics throughout the year, which are designed to support the goals of the clients and customers of Anywhere Leads.


“I am thrilled to congratulate Coldwell Banker Elite on their achievement of the President’s Club Award.” said Kristin Aerts, VP & Head of Anywhere Leads. “This accolade holds importance that extends beyond the achievements of any single individual or company; it establishes a standard of excellence for the entire network. The President’s Club is not merely an award—it is a powerful endorsement of excellence, commitment, and leadership.”


“We’re pleased to receive the Anywhere Leads President’s Club Awards,” said Conor Breen, Vice President of Operations, Coldwell Banker Elite.  “This recognition puts us in great company with some of the best real estate brokers in our industry.”


About the Anywhere Leads Network

The Anywhere Leads Network is a nationwide high-performance network of brokers and agents from some of the most recognizable names in real estate with market-leading expertise who help clients and customers realize their true real estate advantage.


About Coldwell Banker Elite

Coldwell Banker Elite is the #1 Coldwell Banker Affiliate in Virginia with 9 offices around the Northern and Central Virginia region. Founded in 1980, Coldwell Banker Elite’s creative marketing, cutting-edge technology and commitment to quality and unmatched service has helped countless families with their real estate needs. Coldwell Banker Elite provides residential, commercial, property management and relocation services. Each office is independently owned and operated.

Elite NewsFeatured March 13, 2024

Coldwell Banker Elite Realtor® Heather Ferris to Lead Collaboration with North Stafford High School in Establishing CBE Cares Closet for Students in Need

Stafford, VA, March, 2024 – Officially launching on March 18th, Coldwell Banker Elite, in partnership with Realtor® Heather Ferris and in collaboration with North Stafford High School (NSHS), is thrilled to announce the approval and commencement of a heartfelt initiative aimed at addressing the needs of students at NSHS. Ferris will spearhead the establishment of a CBE Cares Closet, with the objective of providing essential resources to students facing challenges in a respectful and supportive manner.


Situated off of 610, the sidewalks of Coldwell Banker Elite’s Stafford office offer safe passage to many NSHS students who walk to and from school. On any given school day, upwards of 20 students are observed walking past the office. Recognizing the needs of these students, Ferris’s proposal for the CBE Cares Closet has been approved to provide a discreet and welcoming space where students can access personal hygiene items, non-perishable goods, and basic seasonal clothing items without any questions or judgment.


“We’re proud to collaborate with Principal Dr. Turner, the Counseling Department, Social Worker, and School Nurses to ensure the CBE Cares Closet meets students’ needs, reflecting our shared commitment to a supportive community,” said Heather Ferris, Realtor® at Coldwell Banker Elite.


With the approved proposal, this initiative, created to address the immediate needs of students facing challenges, will be supported by generous contributions from Coldwell Banker Elite Realtors® and industry colleagues. This collaborative effort not only underscores the company’s commitment to community service but also fosters a sense of unity within the community.


“We’re thrilled to introduce the CBE Cares Closet initiative. It’s all about coming together as a community to ensure every student feels supported and valued. We believe in making a real difference in the lives of our young community members,” remarked Conor Breen, Vice President of Operations at Coldwell Banker Elite. “This project is more than donating much-needed items to local schools, it’s about showing that we care and that we’re here for each other. We’re excited to see the positive impact it will have on our local schools and the students it serves.”


“Heather Ferris is an amazing reflection of Coldwell Banker Elite’s Legacy initiative,” commented Matthew Rathbun, Executive Vice President at Coldwell Banker Elite. “It is our desire to have a positive impact on our community and specifically in the area of giving. Heather’s CBE Cares Closet is going to be a much-needed resource to young people in our schools who need personal items to be accessible to them in a way that preserves their dignity.”


Coldwell Banker Elite is excited to embark on this meaningful endeavor and looks forward to the positive impact it will have on the NSHS community. Community support is vital for the success of the CBE Cares Closet. Donations can be made by contacting Heather Ferris or visiting our Stafford location at 100 Parkway Blvd, Stafford, VA 22554.


For more information, please contact:
Heather Ferris
Realtor® / CBE Cares Closet Liaison
Coldwell Banker Elite
hferris@coldwellbankerelite.com | 540-479-9394


About CBE Cares Closet
CBE Cares Closet is a Stafford-based community outreach initiative dedicated to creating positive impacts on the lives of individuals facing economic challenges, fostering a more inclusive and supportive community.

About Coldwell Banker Elite 

Coldwell Banker Elite is the #1 Coldwell Banker Affiliate in Virginia with 9 offices around the Northern and Central Virginia region. Founded in 1980, Coldwell Banker Elite’s creative marketing, innovative technology and commitment to quality and unmatched service has helped countless families with their real estate needs. Coldwell Banker Elite provides residential, commercial, property management and relocation services. Each office is independently owned and operated.

BlogElite NewsFeatured March 8, 2024

Coldwell Banker Elite Named 2024 Platinum Award Winner by Anywhere Leads

Stafford, VA, March 8, 2024 – Coldwell Banker Elite has been named a Platinum Award winner by Anywhere Leads for its outstanding performance during the past year. Anywhere Leads is a dedicated organization within Anywhere Real Estate Inc., the largest full service residential real estate services company in the United States, focused on delivering high-quality leads to its affiliated brokers and agents in the Anywhere Leads Network.  


The Platinum Award is one of three Excellence Awards presented to Premier Network Brokers. Award criteria are based on rigorous scoring and success in a variety of metrics. 


“I am thrilled to congratulate Coldwell Banker Elite on their achievement of the Platinum Award.” said Kristin Aerts, VP & Head of Anywhere Leads. “They have shown exceptional results across local market insights and best business practices to help our customers reach their real estate goals. This dedication has rightfully earned Coldwell Banker Elite the prestigious Platinum Award and serves as a testament to their unwavering commitment and outstanding contributions to the real estate sector.” 


“We’re pleased to receive the Anywhere Leads Network Platinum Award,” said Conor Breen, Vice President of Operations, Coldwell Banker Elite, “This recognition puts us in great company with some of the best real estate brokers in our industry.” 


About the Anywhere Leads Network 

The Anywhere Leads Network is a nationwide high-performance network of brokers and agents from some of the most recognizable names in real estate with market-leading expertise who help clients and customers realize their true real estate advantage. 


About Coldwell Banker Elite 

Coldwell Banker Elite is the #1 Coldwell Banker Affiliate in Virginia with 9 offices around the Northern and Central Virginia region. Founded in 1980, Coldwell Banker Elite’s creative marketing, cutting-edge technology and commitment to quality and unmatched service has helped countless families with their real estate needs. Coldwell Banker Elite provides residential, commercial, property management and relocation services. Each office is independently owned and operated. 

BlogFirst-Time Home SellersHomeownersSellers January 25, 2024

Our Top 6 Upgrades for Maximizing Your Home’s Return on Investment

Your home is not only a place to live, but also a significant investment. If you’re looking to increase your home’s value and get a solid return on investment (ROI), consider these six home upgrades that can make a significant difference in both comfort and resale value. 

1. Kitchen Remodel

One of the most rewarding home improvements in terms of ROI is a kitchen remodel. The kitchen is often considered the heart of the home, and it’s a key selling point for potential buyers. Consider upgrading countertops, cabinets, appliances, and adding modern fixtures. A fresh, functional kitchen can significantly boost your home’s value.

2. Bathroom Renovation

Bathrooms are another area where homeowners can see a strong ROI. A bathroom renovation that includes replacing old fixtures, updating the vanity, and adding new tiles can enhance both the aesthetic and functionality of your home. A modern bathroom is a major selling point for homebuyers.

3. Curb Appeal Enhancements

First impressions matter, and your home’s curb appeal is the first thing potential buyers see. Invest in landscaping, a well-maintained lawn, and a fresh coat of paint for your front door and trim. These relatively inexpensive upgrades can yield a high return by attracting more buyers and increasing your home’s value.

4. Energy-Efficient Improvements

In today’s environmentally conscious world, energy-efficient upgrades are not only good for the planet but also for your wallet. Installing energy-efficient windows, adding extra insulation, upgrading your HVAC system, and using energy-efficient appliances can lead to lower utility bills and a higher home value.

5. Finished Basement or Attic

If you have an unfinished basement or attic, consider finishing the space to create additional living areas. Whether it becomes a home office, a guest room, or a family entertainment space, a finished basement or attic adds square footage to your home, which can translate into a higher selling price.

6. Outdoor Living Space

Creating an inviting outdoor living space can greatly enhance your home’s appeal. Consider adding a deck, patio, or pergola with comfortable seating and outdoor lighting. A well-designed outdoor area can make your property more appealing to potential buyers and increase its value.


Remember that the key to getting a strong ROI on these upgrades is proper planning and quality workmanship. It’s essential to budget carefully and hire reputable professionals to ensure that the improvements are done correctly.

These six home upgrades have a proven track record of providing a solid return on investment. Whether you’re planning to sell your home in the near future or simply want to increase its value, these improvements can make a significant difference in both your home’s worth and your overall quality of life.

Thinking about selling your home? Get in touch with us today for expert real estate guidance!

HomeownersSeasons January 10, 2024

Weathering the Storm: 7 Strategies to Safeguard Your Home and Outdoor Belongings

With recent big storms and continued high winds in our area, we’ve been thinking over some of our top strategies that have helped us weather the storm. As homeowners, it’s crucial to take proactive measures to protect our homes and property from high winds and heavy rainfall. Preparing your home for these natural elements not only ensures the safety of your family, but also helps in minimizing potential damage. Here are 7 strategies to help fortify your home and safeguard your outdoor belongings for the next big storm. 

1. Seal Windows and Doors:

Wind and water can easily penetrate through gaps in windows and doors. Weather stripping and caulking can help seal these openings, keeping your interiors dry and secure

2.  Secure Outdoor Items:

Unsecured outdoor items can turn into hazardous projectiles during high winds. Secure or store items like patio furniture, grills, garden tools and garbage cans.

3. Clear Gutters and Downspouts:

A well-maintained gutter system is vital for proper water drainage. Regular cleaning and ensuring that downspouts direct water away from your home can prevent flooding and foundational damage.

4. Trim Trees and Shrubs:

Overhanging branches pose a significant risk during storms. Keeping trees and shrubs trimmed can reduce the chance of them falling onto your home or vehicle.

5. Check Sump Pumps:

In areas prone to flooding, a working sump pump is essential. Regularly check to ensure it’s operational, especially before the rainy season.

6. Waterproof Your Basement:

Applying waterproof sealant to basement walls and floors can prevent water seepage during heavy rains, protecting your home from potential water damage.

7. Create an Emergency Kit:

Lastly, prepare an emergency kit with essentials such as flashlights, batteries, a first-aid kit, and important documents stored in a waterproof container. Being prepared can make all the difference in an emergency.


Implementing these strategies can significantly bolster your home’s defenses against harsh weather conditions. While some measures require a bit of investment, the peace of mind and potential savings from averted damages are well worth it. Remember, preparing your home for high winds and heavy rainfall is not just about protecting your property; it’s about ensuring the safety and well-being of you and your family. 

Thinking about moving? Get in touch today to take the first steps towards making your dreams a reality.  https://coldwellbankerelite.com/contact-coldwell-banker-elite

BlogHomeownersSeasonsSellers July 14, 2023

6 Benefits of Holding an Open House This Summer

Warm weather and longer days make summer an ideal time for buyers to explore properties. If you’re looking to sell your home, holding an open house during the summer months can provide numerous advantages. In this blog post, we explore the benefits of holding an open house in the summer and how it can maximize your real estate opportunities.


1. Increased Foot Traffic

One of the primary benefits of hosting an open house in the summer is the potential for increased foot traffic. With pleasant weather and longer daylight hours, more prospective buyers are likely to be out and about, actively searching for their dream home. Capitalize on this increased activity by scheduling your open house during a weekend or on a day when potential buyers are more likely to have free time.


2. Curb Appeal at Its Peak

During the summer, nature is at its finest, and your property’s curb appeal can be at its peak. Lush green lawns, blooming flowers, and vibrant foliage create an inviting and visually appealing atmosphere. Take advantage of the season by ensuring your landscaping is well-maintained, adding colorful potted plants or flower beds, and creating an attractive outdoor living space. The visual appeal of your home’s exterior can make a lasting impression on potential buyers.


3. Natural Lighting and Positive Vibes

Summer brings abundant natural light, filling homes with warmth and creating a cheerful ambiance. Open houses held during this season can showcase your property’s natural lighting, allowing buyers to experience the brightness and positive vibes that come with it. Open up curtains and blinds to let the sunshine in, highlight any skylights or large windows, and create an inviting and well-lit environment. Natural light can make rooms appear more spacious and create a welcoming atmosphere.


4. Showcasing Outdoor Spaces

Summer is synonymous with outdoor activities and enjoying the great outdoors. If your property has outdoor spaces such as a backyard, patio, or deck, hosting an open house in the summer allows you to showcase these areas to their fullest potential. Arrange outdoor furniture, set up a barbecue or outdoor entertaining area, and emphasize the versatility and beauty of these spaces. Buyers will appreciate the opportunity to envision themselves enjoying the outdoors and hosting gatherings in your home’s outdoor areas.


5. School Breaks and Relocation Opportunities

Summer is when families often plan relocations to coincide with the end of the school year. By hosting an open house during this season, you can increase the likelihood of attracting families actively seeking a new home before the next school year begins. Highlight the proximity of your property to schools, parks, and other family-friendly amenities to appeal to this target market.


6. Timing for Renovations and Upgrades

If you’ve recently completed renovations or upgrades to your property, summer is an excellent time to showcase these improvements. Many homeowners take advantage of the warmer months to undertake projects like kitchen renovations, bathroom upgrades, or landscaping enhancements. By hosting an open house in the summer, you can highlight these improvements and the value they add to your property, potentially increasing buyer interest and offers.


Holding an open house in the summer can be a strategic move to maximize your real estate opportunities. The increased foot traffic, enhanced curb appeal, abundant natural lighting, showcasing outdoor spaces, relocation opportunities, and the timing for renovations and upgrades all work together to create a favorable environment for selling your home. By capitalizing on the advantages of the summer season, you can increase buyer interest, attract motivated buyers, and secure a successful sale.


If you’re considering selling your home this summer, get in touch with a Coldwell Banker Elite agent today and let us help you achieve your real estate goals! Our experienced team understands the intricacies of the market and can help you host a successful open house. Whether you need assistance with staging, marketing, or pricing, we’re here to guide you through the process and guide you home.

BlogSmart Home May 19, 2023

Smart Home Security: Enhancing Your Home’s Protection with Technology

In today’s fast-paced world, ensuring the safety of our homes is a top priority. Fortunately, advancements in technology have made smart home devices that can significantly enhance home security more approachable and affordable for the general population. From motion sensors to video doorbells, these innovative gadgets offer peace of mind and an extra layer of protection for homeowners.

Now that these devices have been available on the market for a while, purchasing your own smart home security measures is easier and more accessible than ever. Looking to get started? Here are a few of our recommendations to protect your family with smart home technology.

1. Smart Video Doorbells:
Imagine having the ability to see and communicate with visitors at your front door, even when you’re not home. Smart video doorbells allow you to do just that! Video doorbells have revolutionized home security by providing a live video feed to your smartphone or tablet. With motion detection capabilities, these devices can instantly alert you when someone approaches your door or even record interactions with visitors to your home. From door-to-door salespeople to package drop-offs, video doorbells provide you with an added layer of awareness and security around your home. Whether it’s a delivery person or an unexpected visitor, you can remotely view and interact with them, deterring potential intruders and ensuring your home’s safety.

2. Motion Sensors and Intrusion Detection:
Motion sensors play a vital role in protecting your home by detecting any suspicious movement in and around your property. By strategically placing these sensors in key areas such as entrances, hallways, and windows, you can set up alerts for any unexpected or suspicious activity. Smart motion sensors can send instant notifications to your smartphone, allowing you to take immediate action or alert the authorities if necessary. Even more effective, linking motion sensors with smart lighting systems can further enhance security by illuminating the area when motion is detected, discouraging potential intruders, and allowing you a better idea of what is happening around your home.

3. Smart Locks and Access Control:
Traditional keys are prone to being lost, stolen, or duplicated, and can compromise your home’s security. Smart locks offer a modern solution by allowing you to control access to your home digitally. Features like keyless entry, temporary access codes, and remote locking/unlocking, smart locks are convenient and provide your family with peace of mind that your home is secure You can grant access to family members, friends, or service providers remotely, and even monitor the status of your locks from anywhere in the world. Smart locks not only support the overall security of your home but also eliminate the need for physical keys, making getting into your home much simpler.

4. Surveillance Systems and Indoor Cameras:
Installing interior surveillance systems as well as indoor cameras can act as a powerful deterrent against burglars. These devices offer real-time video monitoring of the inside of your home, enabling you to keep a watchful eye on your property, pets, or loved ones. With high-definition video quality and advanced features like night vision and two-way audio, indoor cameras provide a comprehensive security solution. Moreover, many smart cameras have built-in motion detection, triggering alerts and capturing footage whenever movement is detected.

Equip Your Home with Smart Home Security

The advent of smart home technology has revolutionized home security, making it more accessible and efficient than ever before. With devices like smart video doorbells, motion sensors, smart locks, and indoor cameras, homeowners can now enhance their security and protect their loved ones with ease.

Whether deterring potential intruders, monitoring activities, or controlling access, smart home tech brings major value to home security and a smart home setup as a whole. Investing in these devices not only ensures the safety of your home but also simplifies and enhances your daily life. When you embrace the power of smart home technology, you’ll enjoy the confidence of a secure and connected home!

BlogCommunities May 15, 2023

Celebrate National Pet Month in RVA

Richmond, VA has always been a hub for pet appreciation, from local dog-friendly breweries to shopping with your canine at Stony Point Fashion Park, the local community and its businesses support including pets in our events and activities.

This month,  we celebrate National Pet Month, highlighting opportunities to take our pets out and about for festivities to share with our furry family members.

Take a look at what events you can partake in for the remainder of May 2023:


Richmond SPCA Pizza With Purpose

Thursday, May 18, 2023 | 11:00 am – 9:00 pm | California Pizza Kitchen Short Pump

Inviting us to join them on their dog-friendly patio, California Pizza and the Richmond SPCA are hosting a fundraiser on May 18th donating 20% of all food and beverage sales to support our local SPCA and its pets.

For takeout and catering orders, use the code ‘Back20%’ online to contribute if unable to dine in as well. Learn more about this local fundraiser here.


Fidos After 5 at Lewis Ginter

Thursday, May 25, 2023 | 5:00 pm – 8:00 pm | Lewis Ginter Botanical Garden

Leash up your dog and bring them to socialize and enjoy an evening filled with live music, beautiful scenery, and food/drinks at our local famous botanical garden!

Featuring an RVA favorite soul & pop cover band, Kozy Cats, many will gather at this annual event to celebrate their furry friends and explore the beauty of their large enchanting garden with others. Learn more about this upcoming event here.


New Ruff Canine Club Dog Park & Brewery

Scott’s Addition District, Richmond, VA

New to Richmond, VA is the latest combination dog park and brewery, Ruff Canine Club! Dedicated to building community, promoting positive canine ownership, and providing members with excellent activities and service, this local venue offers us the ability to include our dogs in our evening festivities with friends and family.

Join RVA’s first dog bar, located in Scott’s Addition, hosting weekly events to add to your calendar and share with others. Enjoy local craft beer and wine with friends while your dog plays under supervision and care! Learn more and discover membership options here.


RiverRock Ultimate Air Dogs Competition

May 19-21, 2023 | Brown’s Island, Richmond, VA

It’s Back! Hosted by the famous Dominion Energy RiverRock festival, the Subaru Ultimate Air Dogs competition combines fetch and swimming for our canine friends to enjoy a refreshing and playful experience while being cheered on by hundreds of RVA locals. 

One of the premier dock jumping organizations in the country manages this event, offering Richmonders the ability to register their pup(s) to become a star for the day/weekend! Pop by the Subaru booth this upcoming weekend for free treats and a kissing booth photo shoot as well. We are all excited to partake in this upcoming festival’s outdoor dog-friendly activities. Learn more and register your pooch here.


In addition to these exciting upcoming events, Richmond, VA also offers an assortment of dog parks and local trails for us to enjoy with our pets this month. Browse the local public dog parks in your area here. We hope all our pet owners and homeowners enjoy this month’s festivities surrounding our furry family members. 

BlogCommercial May 15, 2023

How to Navigate Technology Innovation in Commercial Real Estate

As the world evolves, so does the technology that we use to operate within it, and commercial real estate (CRE) is no exception. With the introduction of artificial intelligence (AI) and smart technology into the world of commercial real estate, there has been a shift in the way that businesses and investors alike approach their commercial properties.


In this blog post, we will explore the ways the impact that new technology has had on the commercial real estate space as well as consider the changes that may be incoming as technology continues to advance. 


Currently in Commercial Real Estate

Currently, the CRE industry is facing a challenging market. The global pandemic has caused a shift in the way that businesses operate, with many companies moving towards remote work. As a result, the demand for office space has decreased, and the need for alternative uses of commercial real estate has increased. However, this challenge also presents an opportunity for businesses to set themselves apart through the use of smart technology as a tool for maximizing profits, selling or leasing their properties, and enticing potential employees with access to innovative workplace tech.


Staying On Top of the Tech Trends

The commercial real estate (CRE) industry is rapidly changing, and staying on top of technology trends is critical for professionals to remain competitive. The use of property technology (proptech) is becoming increasingly important as companies aim to boost efficiency and reduce costs. Proptech involves the use of automated services, access control systems, and smart devices to improve basic building functions. This type of new technology is also important to increase efficiency by reducing tedious tasks, and opening up your teams to focus on the work that really matters. There are all sorts of proptech trends becoming more prevalent in the world of CRE lately, including virtual reality tours, artificial intelligence for performance, clean tech for energy efficiency, and smart technology and security. The adoption of these trends can help professionals in CRE shape their real estate endeavors and set themselves apart from competitors.

Keep Moving Forward 

While the past several years have seen a rise in tech such as virtual 3D tours of commercial properties, the coming years will likely only see the push for innovative technology in CRE grow. If you are considering investing in smart technology for your business, here are a few ways to get started: 


3 Ways that Tech Can Streamline CRE Operations 


  1. Going paperless with automation is another crucial investment must. Providing a mechanism to digitally store signed documents and automating invoicing and payments through an automated clearing house (ACH) allows CRE management teams to stay on track with tenant payments and annual increases. 
  2. Artificial Intelligence (AI) is another rising technology that can be used in many different ways, from monitoring building security and temperature control, to automating the process of generating leads and collecting applications. 
  3. Tenant management portals and reporting and business intelligence through data are other technologies that CRE owners should invest in to provide tenant transparency, increase bottom-line results, and maximize annual rent increases while minimizing losses due to local market changes. 


Why Does Tech Matter for CRE?

Prioritizing innovative technology allows commercial real estate businesses, and often their tenants as well, to operate more efficiently and effectively. By using AI and smart technology, businesses can reduce costs, increase productivity, and improve the tenant experience. As technology continues to evolve, there will be even more opportunities for businesses to innovate and improve within the CRE industry. 


If you need a partner who understands the intricacies of commercial real estate – as well as the technology that comes along with it – we’d love to serve you. Reach out to our CRE team at Coldwell Banker Elite for a partner that will treat your investments as if they were our own. 

BlogMarket Data May 5, 2023

Virginia Housing Market Q1 Recap: What You Need to Know

Now that we’re solidly into the spring months and warmer weather, it’s a great time to look back at how the overall market has fared in the first three months of 2023. Whether you’re ready to jump into the market in the coming months as a buyer or seller, or if you simply like to keep a finger on the pulse of the real estate market, this blog will dive into the contributing factors as well as a recap of the overall Virginia residential real estate market through January, February, and March of 2023. Let’s get started. 

A Recap of Residential Real Estate in Q1

The real estate market in Virginia has been quite active in the first quarter of 2023. Home sales have increased steadily from January to March, with March being the strongest month of the quarter with 8,709 homes sold. Similarly, sales prices have shown a consistent rise with the average sales price with an increase in the average of $20,000. On the other hand, the overall number of new listings has been relatively stable throughout the quarter, with only a slight increase of about 400 listings monthly. This comes out to about a 5% increase overall through the first quarter of the year. 


For sellers, the first quarter of 2023 has been a favorable period as the rise in home sales and prices indicate that the demand for homes in Virginia is high. This can be attributed to various factors such as low mortgage rates, a strong job market, and an increasing population. With all of this in mind, sellers can still anticipate a relatively favorable environment to list their homes and receive competitive offers from buyers.


For buyers, the rising sales prices may seem daunting at first, but the comparatively low mortgage rates make homeownership more affordable when considering the sky-high rates of the last year. The increase in home sales indicates a competitive market, and buyers must act fast to secure a property. The considerably more stable number of new listings can also be seen as a positive sign for buyers, as they will have a good range of options to choose from, and competition will begin to decrease slightly. 


Looking ahead to the coming months, we’re anticipating the Virginia real estate market will continue to be competitive. The low mortgage rates are expected to remain stable for the foreseeable future, making homeownership an attractive option for buyers. Additionally, with the arrival of spring and summer, it is typical for the housing market to become more active. Therefore, buyers and sellers should expect a busy season ahead.

What to Expect for Q2

As we move into the second quarter of the year, we’re expecting to see lower interest rates and a continued increase in the overall number of homes on the market. For buyers who have been holding off on making a purchase, Q2 may be the best time in a few months to make their move when it comes to the selection of available homes, potential for negotiation in price and terms, as well as lower interest rates than we’ve seen in the last year. 


As for sellers, the market is not nearly as hot as it was in 2021, but it’s a decent time to sell your home if you’ve been considering making a change. 


Make the Most of the Market for 2023

Are you considering buying or selling your home in the next few months? Maybe you’re scoping out the market for the best time to get the most for your money? Wherever you find yourself as we move into the spring and summer, reaching out to our team at Coldwell Banker Elite is a great place to start. We’ll help you navigate the current market, sell your home, and find your dream home, all as easily and seamlessly as possible. 


Let’s make the most of 2023 – Reach out to us anytime to get started!