With more companies in the Washington, D.C., and Northern Virginia areas allowing employees to work remotely, some home buyers are searching for houses in communities they consider to be more affordable, such as the Northern Shenandoah Valley and the Eastern Panhandle of West Virginia.
Marissa Boone of Keller Williams Realty said many buyers are looking for three-bedroom, two-bathroom homes with a basement and a yard. There also has been an increase in families wanting space for aging parents.
“We have noticed a rise in individuals and families migrating to the area from all over,” she said. “After experiencing what the world went through last year, a majority of people can now work from home, so that is allowing them to move virtually anywhere.”
Boone said she gets many clients who work in more populated areas searching for homes in this region.
“I believe saving $150,000-plus is worth an extra 45-minute drive,” she said. “Aside from the particulars of the property buyers want, there are younger people purchasing now as opposed to what the market has seen in the past.”
But it’s not just homes. Boone said the market value for land in the region has “gone up significantly.”
“Consumers are realizing that you can always build homes, but no one is making more land so people are scooping it up,” she said.
Boone, who has been a Realtor since 2017, said the differences between Virginia and West Virginia in the real estate market are in home prices.
“In Virginia, you can purchase a three-bedroom, two-bath home with an average lot size for $440,000, whereas when you cross the state line into West Virginia that same home could be about $280,000,” she said.