If you’re thinking about making a move in or out of Northern VA, selling your house this fall or winter might be your best move. Here are four reasons driving home sellers to make a move in the housing market that may make your decision to sell now an easy one.
1. Buyers are Buying Now in Northern VA
ShowingTime, a real estate showing software and market stat service provider used by agents, just reported that buyer traffic jumped 60.7% compared to this time last year. That’s a lot of buyers actively looking to purchase a home in Northern VA.
It’s clear that buyers are ready, willing, and able to purchase even with current COVID concerns – and they’re in the market right now. Take advantage of the buyer activity currently in the market so you can sell your house in the most favorable terms.
2. Current Inventory of Homes for Sale is Low
In the latest Existing Home Sales Report, the National Association of Realtors (NAR) announced that there were only 1.49 million units available for sale. That number was down 18.6% from one year ago. Here in Northern VA, the inventory is currently down 37% compared to this time last year.
Many homeowners were reluctant to list their homes earlier this year because of the pandemic. That will change as the economy continues to recover. The choices Northern VA buyers have will increase going into the new year and the 2021 spring market. Don’t wait until additional sellers come to market before you decide to make a move. DO IT NOW!
3. Quick Process
Our current ultra-competitive environment has forced homebuyers to do all they can to stand out from others, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to the latest Origination Insights Report from Ellie Mae, the time needed to close a loan is just 35 days.
4. There May Never Be a More Important Time to Move
If you are anything like my family, you’ve spent much of the last six months in your current home. Perhaps you now realize how small it is or not as functional as you’d like, and you need more usable space. If you’re working from home, your children are doing virtual school, or you just need more space, your current floor plan may not work for your family’s changing needs.
Bottom Line
The Northern VA housing market is prime for sellers right now, so let’s connect to get the process started this fall. If the timing is right for you and your family, the market is calling your name.
