How to get your home sold QUICKLY in Northern Virginia

yes, I said “How to get your home sold quickly in Northern Virginia!”  All of a sudden I’ve been seeing more and more about inventory issues – and with interest rates at historically low levels and expected to hover down here for a little bit, it comes as no surprise that we are seeing an early surge in the market – it’s spring outside (I don’t get why it’s 70 degrees in February, but hey, I’m not complaining much) and the market is also behaving very spring-like.  Here is some data on home contract activity for Fairfax County and for Arlington County as well.  This is for properties that have gone under contract in the last 30 days and how long they were on the market:

Fairfax County
<5 days:          208 homes (16.9%)
6-14 days:      277 homes (22.5%)
15-30 days:    189 homes (15.3%)
31+ days:       557 homes (45.2%)

Arlington County

<5 days:           28 homes (14.9%)
6-14 days:        53 homes (28.2%)
15-30 days:     18 homes (9.6%)
31+ days:         89 homes (47.3%)

What does this tell you?  Well it tells me that if you want to sell your home in Arlington or Fairfax (and likely the surrounding areas as well) then you need to be spot on with your price and presentation – you better look good and be priced well – If you can’t look good, you can be priced appropriately.  In both counties around 40% of recent listings sold in the first 2 weeks!  Then we see a drop off in weeks 3-4 on the market – why is that?  Sellers haven’t yet come to terms with a price reduction and finally by the 4 week mark, likely have reduced the price and therefore have finally put themselves in the right position in the market.

This is not rocket science – we’ve been saying all along that price and condition MATTER!!!  On a more serious note, we are in dire need of listings to sell.  If you or someone you know has considered selling but wondering when the right time would be please get in touch with us.  The time might very well be upon us – we can help you understand the market dynamics for your neighborhood, understand what it would take to sell and what the likely outcome would be.

As always, we appreciate the opportunity to earn your business!

Happy Friday

Jen & Joan

 

 

 

One thought on “How to get your home sold QUICKLY in Northern Virginia

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