Fall 2017 is a great to put your home on the market and sell it at an excellent price. Here’s why!
According to the Northern VA Association of Realtors, sales prices are at an all-time high: the median home sale price in the Northern Virginia region reached $535,000 in June – the highest month on record.
Your house will be a welcome addition to a market that is hungry for inventory. The number of new and active listings remains well below the five-year average. In most of the Northern Virginia and DC housing markets, prices are projected to remain high because of demand.
More good news for sellers: the 2017 average day on the market (DOM) is 36! If your home is priced strategically and professionally prepared for market, that DOM number can be much smaller.
Finally, mortgage interest rates remain very low, providing incentives for buyers to purchase now!
The biggest question people ask is, “shouldn’t we wait until the spring market? Isn’t spring the BEST time to sell? “
The Spring and Fall markets are both good, but different. The Fall market is shorter, starting after Labor Day and wrapping up in just before Thanksgiving. People tend to act quickly. Buyers who were not able to get the house they wanted in the spring market are ready to buy. And remember, mortgage interest rates are not going to stay this low forever.
Some of the economic models forecast a decline in the 2018 real estate market based on the uncertainties of employment and government funding, especially in the DC area. Property values may level off and interest rates could be on the rise.
Do you want to take a chance waiting for that?
Let’s talk today and get your house ready to be Sold By Cathi!