Happy Friday, Northern Virginia!

In this week’s update:

🏠 What Future Homebuyers Want in 2025: The 2025 housing market is shaping up to be a challenging one, with mortgage rates persistently elevated, home prices at record highs, and inventory stubbornly low. Despite the obstacles, there is significant pent-up demand and many would-be homeowners still dream of their home purchase.

🏌🏽‍♂️ LIV Golf Comes to Gainesville, VA in 2025: Robert Trent Jones Golf Club in Gainesville, VA will host a LIV Golf tournament from June 6-8, 2025, following its successful stint as the host of the 2024 Solheim Cup.

💰 DC’s Ultra-Luxury Real Estate Kicks Off 2025 with Record Sales: An eight-bedroom, six-and-a-half-bath home in D.C.’s exclusive Woodland Normanstone neighborhood, directly across Woodland Drive NW from PayPal founder Peter Thiel’s 10,000-square-foot mansion, privately sold Jan. 3 for $17.5 million — a staggering $7.85 million more than it last traded for only two years ago.

 🔑 What Will Homebuyers Want in 2025?

Driving the news: The 2025 housing market may present challenges like high mortgage rates and low inventory, but it also reveals what prospective buyers value most in a home. A recent Bright MLS survey highlights the features and amenities future buyers prioritize as they navigate a competitive market.

Details:

• Move-in ready homes top the list: 56.1% of buyers prefer homes requiring no repairs, while 37.8% see this as somewhat important.

• Size and functionality: 53.2% of respondents considered having sufficient bedrooms very important, followed by features like garages and en suite primary bedrooms.

• Outdoor spaces vs. interiors: A third of buyers prioritize front porches over gourmet kitchens, while 31.2% value large yards.

• Neighborhood preferences: Suburbs are the top choice for 40.2% of buyers, followed by small towns (23.5%). Proximity to work is key for more than half, with walkability and nearby retail also valued.

Why it matters: Understanding buyer priorities helps homeowners looking to sell tailor their properties to meet market demands. It also sheds light on the evolving needs of buyers as they balance features, location, and affordability.

The big picture: While buyers are willing to make some compromises—like purchasing smaller homes or fixer-uppers—saving for a down payment remains a significant hurdle. Creative financing, rental units, and family gifts are helping many achieve their homeownership dreams.

What’s next: Sellers can appeal to future buyers by focusing on move-in-ready conditions and features like additional bedrooms, garages, and primary suites. Buyers, meanwhile, should stay flexible and open to trade-offs, especially with inventory remaining tight.

The bottom line: Despite market challenges, the drive to own a home remains strong in 2025, with buyers ready to adapt and prioritize what matters most to them.

⛳️ LIV Golf is Coming to Prince William; Robert Trent Jones to Host Tournament in June

Driving the news: Robert Trent Jones Golf Club in Gainesville, VA is set to host a LIV Golf tournament from June 6-8, 2025. This marks a major event for the famed course, which recently hosted the 2024 Solheim Cup.

Details:

• The course: Considered Robert Trent Jones' masterpiece, the course is built around Lake Manassas, featuring breathtaking peninsular greens that challenge even seasoned players.

• The schedule: The Gainesville event joins LIV Golf’s 2025 lineup, with tournaments also planned in Miami, Mexico City, South Korea, and Michigan.

• Star-studded roster: LIV Golf’s lineup includes some of the biggest names in golf, like Jon Rahm, Brooks Koepka, and Dustin Johnson, with winners taking home substantial prize money.

Why it matters: This event elevates the national profile of the Gainesville course and highlights Northern Virginia as a key player in the international golf scene, driving tourism and bolstering the local economy.

The big picture: LIV Golf continues to expand its global footprint, competing with the PGA Tour by offering shorter, high-stakes tournaments. With Saudi-backed funding, the league has sparked conversations about the future of professional golf.

What’s next: Tickets for the Robert Trent Jones event will be available soon at LIV Golf’s official website, offering fans the chance to see world-class golfers up close.

The bottom line: Gainesville’s LIV Golf tournament is set to attract top talent and golf enthusiasts alike, solidifying the region’s status as a premier destination for the sport.

🎥 Moving to Northern Virginia in 2025?! Everything you must know before deciding

Thinking about moving to Northern Virginia in 2025? Discover the key insights about housing, lifestyle, and what to expect before making your decision!

📈 Washington D.C. Metro Housing Market Kicks Off 2025 with Strong Momentum

Driving the news: The Washington D.C. metro area ended 2024 on a high note, setting the stage for a dynamic 2025 housing market. December brought a surge in buyer activity, with 3,858 home sales—a 25.9% increase over December 2023. This uptick, combined with strong price growth, demonstrates resilience in the region’s housing market.

Details:

• Sales growth: Total sales in 2024 rose 2.0% year-over-year, with buyers adapting to mortgage rates in the high 6% range—nearly 0.75 percentage points lower than a year ago.

• Price gains: The median sold price reached $590,000 in December, marking a 6.1% year-over-year increase. Single-family detached homes led the pack in price appreciation.

• Low inventory: New listings in December hit a historic low of 2,126, a 4.1% drop from the prior year, highlighting limited supply as a key challenge for 2025.

Why it matters: Despite affordability concerns and tight inventory, buyer demand remains robust, with significant activity driven by acclimation to higher interest rates and a persistent desire for homeownership.

The big picture: The DMV housing market is poised for gradual growth in 2025. Buyers have shown resilience, adjusting to current market conditions, while sellers benefit from rising prices. Suburban counties, like Fairfax (+35.4% sales) and Loudoun (+28.3% sales), are seeing particularly strong momentum.

What’s next: While inventory constraints may continue, easing mortgage rates could unlock additional buying power in the coming months. With continued demand, the region is expected to maintain its upward trajectory in sales and pricing.

The bottom line: Entering 2025, the Washington D.C. housing market demonstrates strength and adaptability, proving that opportunities exist for both buyers and sellers in this evolving landscape.

🏡 Two D.C.-Area Mansions Sell for $17.5M, One Across the Street from Peter Thiel's Estate

Driving the news: The ultra-luxury residential market in the D.C. region has started the year strong, with two blockbuster sales hitting $17.5 million each within the first week of 2025.

Details:

• Woodland Normanstone Sale: An eight-bedroom, 9,500-square-foot home in D.C.’s Woodland Normanstone neighborhood sold privately for $17.5 million on Jan. 3. The historic 1929 property fetched $7.85 million more than its last sale in 2022.

  • The transaction was conducted off-market, with no broker claiming credit. The home, previously owned by Penny Pritzker and Zoë Baird, boasts a storied past and high-profile neighbors, including PayPal founder Peter Thiel.

• McLean Estate Sale: A 14,000-square-foot estate at 1150 Chain Bridge Road in McLean sold for the same price on Jan. 7.

  • Represented by TTR Sotheby’s International Realty, the property’s seller was tied to a limited liability company linked to the former estate of NVR founder Dwight Schar.

Why it matters: These sales highlight the strength of the D.C. region’s ultra-luxury market, particularly in exclusive neighborhoods like Woodland Normanstone and McLean. Despite economic headwinds, demand for premium real estate remains robust among affluent buyers.

The big picture: The $17.5 million sales align with a broader trend of high-end properties trading in coveted neighborhoods like Kalorama and Massachusetts Avenue Heights. Wealthy buyers continue to view the region as a desirable hub for luxury living, bolstered by its mix of historic charm and modern amenities.

What’s next: With interest in high-end real estate holding steady, expect more record-breaking transactions in 2025. Neighborhoods with storied histories and close ties to influential figures will likely remain focal points for ultra-luxury buyers.

The bottom line: The D.C. area’s luxury real estate market is thriving as it enters 2025, setting the tone for a year of high-profile deals and elite investment opportunities.

📊 Our Current Local Market Numbers

The Northern Virginia real estate market continues to thrive across Arlington, Alexandria, and Fairfax Counties. Whether buying or selling, having an experienced guide by your side is crucial in today's dynamic market.

Selling your home? I'll create a targeted marketing strategy and help you set the right price to attract serious buyers and maximize your return.

Looking to buy? With current interest rates, this could be your ideal time to purchase. Let me help you find and secure the perfect home.

🗞️ In Other News…

• Where D.C. ranks among 2025's best-performing cities

• Snow day food and drink specials around D.C.

• Post Brothers seeks two-year extension for $400M office-to-residential conversion

Chris Colgan - EXP Realty Powered by Place

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