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Stop Thinking About It. It's Time to Sell Your House. Inventory is Very Very Low in Northern Virginia

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

The title of this blog post pretty much says it all.

I'll repeat it here:

Stop Thinking about Selling. It's Time to SellIf you've been thinking about selling your house in Northern Virginia, follow these four important steps:

  1. Stop what you are doing right now.  Seriously.  Stop!
  2. Stop "thinking" about selling your house.
  3. Tidy up the house.
  4. Call me to help sell your house.  (Call today at 703-626-0715)

Why?

Northern Virginia Housing inventory is at EXTREMELY low levels.  A "normal" or balanced market means that there is 6 months of inventory of houses on the market.  More than 6 months inventory favors buyers who have lots of homes to choose from.  Less than 6 months inventory favors sellers who can take advantage of the lack of inventory to entice the buyers to buy their home.

In Northern Virginia, housing inventory is VERY VERY low.

Consider:

City of Alexandria:

  • 446 homes on the market
  • 1,103 sales in last 6 months or 183.8 Alexandria home sales/month
  • Currently ONLY 2.4 Months of housing inventory in Alexandria, VA

Arlington County:

  • 593 homes on the market
  • 1,495 sales in last 6 months or 249.2 Arlington home sales/month
  • Currently ONLY 2.4 Months of housing inventory in Arlington, VA

Fairfax County:

  • 2,455 homes on the market
  • 8,300 sales in last 6 months or 1,383 Fairfax County home sales/month
  • Currently ONLY 1.77 Months of housing inventory in Fairfax County, VA

Okay, review the 4 steps above.  I'll have my cell phone in hand all month.

Oh, one more reason to get started now: Buyers have until April 30th to take advantage of the extended homebuyer tax credit.  You might be able to take advantage of the move-up tax credit yourself.

Comments (3)

Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Brian...Thanks for spreading the good news.  Sounds like the market is regaining its health

Kate

Dec 02, 2009 10:55 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Brian, good to hear this. I have a condo in Arlington, I am trying to sell.

Dec 02, 2009 04:51 PM
Tina Merritt
Nest Realty - Blacksburg, VA
Virginia Real Estate

so your inventory is down up there too?  hmmmm...think it is due to the buyer tax incentives?

tinainvirginia

Dec 05, 2009 07:59 AM