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Northern VA Real Estate Market Trends

By Kuppan Gayathri

Curious about how the Northern VA Real Estate Market is performing? Let’s take a look at these two metrics of the Northern VA Real Estate Market; Current Active Listings and Average Days on Market. These are the numbers that most homeowners seem most concerned about AFTER price.

As Northern VA sees the number of Current Active Listings increase, the easier it is to say the Northern VA Real Estate market is changing. In the past, supply could not keep up with demand, but that is changing. While we were once in a seller’s market, me are now moving to a balanced market. The definition of a balanced market varies, but generally it is when the supply meets demand and there is about FIVE MONTHS of housing inventory available.

Quickly we are seeing the days vanish where no sooner did your neighbor put a sign in the yard and it was GONE. With the Average Days On Market increasing, properties are starting to sit. With this change in the market comes the importance of properly preparing your house for market. Buyers will have more houses to choose from so they can be much more discerning about what they decide to drive over and see. If they don’t come to see it, they certainly will not be buying it.

While these numbers are representative of the Northern VA Real Estate Market, we can easily provide a snapshot of your neighborhood. There are certain pockets in the region that are fairing much worse than the Northern VA Real Estate market statistics and there are some that are much better. Home ownership is one of the biggest investments that you will make, so it is important to understand how YOUR SPECIFIC neighborhood is doing. If you are interested a detailed picture of how your neighborhood is performing, just ask!

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