If you've been paying attention to the real estate market at all this year, you've likely seen homes flying off the market rather quickly. People tend to identify this as a "sellers market," but what does that mean for you? Is it still the case even in July?
If you take a look at the numbers in Loudoun, for example, the average Days on Market has decreased steadily since January. We have yet to see a rise in that average. Here's what this could mean for you:
As a buyer, you will want to keep a constant eye on available houses, schedule showings quickly, and make sure you're well-qualified by your mortgage lender.
As a seller, you may want to consider selling this summer, rather than waiting until next spring. You might be surprised by how quickly your home sells.
Whatever your position, it's a good idea to contact your real estate agent for advice on what your next move should be and the steps you can take to get there. In the meantime, be sure to take a look at our Open Houses this weekend (and every weekend if you like), whether you're shopping or looking for staging ideas.
All MRE | AP agents are licensed REALTORS® and subscribe to NAR's strict Code of Ethics, which is based on honesty, professionalism and the protection of the public. We fully support and operate in accordance with The Fair Housing Act.