The Northern VA market is still soaring, even as the dog days of summer bear down with high temperatures and humidity. Even though the month of July tends to be historically slower than most others, with low inventory it is still a good time to sell. Here are 5 reasons to sell your Northern Va Home this summer!
1. Strong Demand
The National Association of Realtors (NAR) latest buyer report shows that buyer demand remains very strong throughout the country including the DMV. Buyers are ready, willing and able to purchase…and are in the Northern VA market right now! Homes staged , priced well, and strategically marketed online can even generate multiple offers and demand a higher price.
Home sellers should take advantage of this market now!
2. Less Summer Competition
Northern VA listing inventory has declined year-over-year for the last 35 months and is still well below the 6-month supply needed for a normal housing market. This means there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners ready to sell but still waiting for the “right time”!
Historically, homeowner stayed in their home six years, but that number has recently changed between nine and ten years since 2011. There is a pent-up desire for Northern VA homeowners to move. As home values appreciate, more and more homeowners have gained the freedom to make a move but have continued to sit the sideline.
With a continued good real estate market, buyers choices will to improve. However, fair warning, don’t wait until the market changes and inventory increases and it becomes more challenging to sell.
3. Quicker Process
Today’s seller market has forced buyers to do all they can to stand out from the crowd, including getting pre-approved. This makes for a simpler and quicker process as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 41 days. Work with an experienced local loan officer and this can even be much smoother, check out my business partners.
4. It’s the Best Time to Move Up
Are you considering moving up to premium or luxury home in Northern VA, now is the time to move up! The inventory of homes at these higher price ranges has forced these markets into a buyer’s market in Northern VA. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium or luxury home to call your own!
Prices are projected to appreciate by 5.2% over the next year in Northern VA, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. Here is a detailed article I wrote a few months back — Buyers Market Helps Premium Sales Soar
5. It is Time to Move on With Your Life
Think about and consider the reason to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come to move on and start living the life you desire.
That is what is truly important.
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Call Joey, an exceptional real estate agent and REALTOR with RE/MAX Preferred Properties, for selling or buying a home in Northern VA. Your Home My Passion.
Specializing in happy home sellers and home buyers, selling starter homes, trade up homes, premium homes, and luxury real estate in Northern VA. Selling homes since 2003 to first time home buyers, relocating clients, first time home sellers, luxury clientele, downsizing, and trade up clientele. Helping home sellers sell quickly and profit more with a carrier average days on market of 39 days.
Alexandria, Arlington, Ashburn, Burke, Centreville, Chantilly, Dunn Loring, City of Fairfax, Falls Church, Great Falls, Herndon, McLean, Oakton, Reston, Sterling, Tysons Corner, Vienna, or anywhere in Northern VA.