With the Spring Seller’s Market right around the corner, I wanted to share some information about current market conditions, and also offer some analysis of where the market is heading.
Good News: The 2018 Real Estate Market is off to a strong start in Northern Virginia. Home sales numbers are strong, and homes are selling fast.
Here are some numbers:
2018 Year to Date: Northern Virginia
There is currently an average of 45 days of inventory on the market region-wide. The numbers indicate that a very strong seller’s market exists in our region right now. As we approach Spring, I am confident that this seller’s market will only get stronger.
2018 Year to Date: Arlington County
There is currently an average of 75 days of inventory on the market in Arlington County. The numbers indicate that a very strong seller’s market exists in Arlington right now.
2018 Year to Date: Fairfax County
There is also an average of 75 days of inventory on the market in Fairfax County. These numbers indicate that a very strong seller’s market exists in Fairfax right now.
2018 Year to Date: Contracts / Closings / Inventory
The number of contracts written and closings is on pace with the same period of 2017, which was a very strong year for sales in Northern Virginia Real Estate. The number of new listings is significantly higher than the same period of 2017. This is a good sign heading into the Spring selling market. There should be plenty of fuel for the spring market to burn!
The Northern Virginia Real Estate Market is off to a great start this year. Now is a great time to sell your home.
Want to know more about the current market? Have questions? Feel free to get in touch with me anytime.