Hot, hot, hot…just like the weather, that’s what we are experiencing this summer in the Northern Virginia real estate market.  We are still having great turnouts at open houses, lots of inquiries from our signs/advertising and multiple contracts on many of our listings that our sellers have put in top notch market condition (and priced properly!).  Interest rates remain low making monthly payments affordable and buyers are taking advantage of them.  Year over year, sales are up 5.5% yet prices remain flat so it is important to have your house properly priced when you put it on the market.

Now is not the time to push prices.  We have seen, even in multiple contract situations, buyers are not offering above list price.  This being said, even though the demand is there, buyers are reserved on pricing when making offers.  Having the proper expectations is so important when selling your home.

Historically, the last few August’s we have seen a slowdown in sales resulting in an increase in the month’s supply of homes.  As of now, I don’t anticipate this happening with the aforementioned activity.  This being said, some areas are doing better than others so it is important for us to have discussions over what to expect depending upon where you live.

The bottom line – NOW is a great time to be buy or sell your home in Northern Virginia and I am here to help you with your next purchase or sale.  Put my experience to work for you.  Enjoy the rest of your summer!

It’s a good life.