Watch on your mobile device >>
In 2007 and even as recent as last year, many sellers were hesitant to list their home on the market – and with good reason. Since then, we have been reporting some big changes across the board despite our market not being hit by the market crash as hard as the rest of the nation.
Here are some numbers as to how we are doing in some of our communities, which provides a snapshot as to why now may be the perfect time for you to reconsider whether or not you want to list your home. These numbers might surprise you.
Alexandria saw a 27% drop in inventory with nearly a 7% increase in sales volume.
Arlington experienced an unprecedented 44% increase in the number of sales and a huge decrease in inventory with 26% fewer properties on the market.
Fairfax also reported a decline in inventory with 21% fewer homes on the market, combatted by a 12% increase in sales.
Montgomery County broken down into apartments, condos and coops versus single-family homes stacks up like this: Condos and coops inventory is down significantly by 39% while sales are only reported down by 1%. Single-family home sales in Montgomery County were up 4% with a 22% drop in inventory.
Washington, DC saw a 13% rise in sales with a 32% drop in inventory for apartments, condos and coops. Single-family homes in DC accounted for 5% fewer sales and 35% fewer available homes on the market.
~
With our extreme dip in inventory levels, and corresponding increase in sales – there is no question that sellers will enjoy the benefits of placing their home on the market now. Not only is there a strong chance for multiple offers and bidding wars for highly desirable properties but also sellers are able to demand top dollar for their homes.
To evaluate your situation and for a customized look at your home and what you might expect to receive for it upon sale, contact me today at carlos@enggarcia.com or 202.290.1313. We look forward to serving you!
No comments:
Post a Comment