YES!! I have 4 bullet points that say it all.
- Multiple offers/Sellers’ market
- Average 50 days on market
- Median sold price $1,125,000
- Commanding 97.3% of Original List Price
The Great Falls VA Real Estate Market (22066) has tipped towards the sellers’ favor. Now, the decision to sell one’s home is a very complex one and every circumstance is different, but the one thing that every seller must deal with and has no control over is market conditions. So let’s examine the bullet points and the Great Falls VA Real Estate Market to see why you should sell your home now.
In our examination of the January Market, we began to see the market shifting in the Seller’s favor. This shift showed no signs of slowing as the short month of February flew by.
In February, 38 new homes were listed. This is up from the 5-year February average of 30. Even with 38 new homes listed last month, we still only have 94 active listings in Great Falls. We are 12 short of February of last year and 32 short of the 5-year Feb Average. This shows us that, again, inventory is low.
Just how low is inventory? In February, 25 new contracts were accepted (new pendings). This is up from 15 in January and up from the 21 that were accepted February 2012. The 5-year February average is just 17! This means that there is just 3.76 months worth of inventory (# of active listings/ # of new pendings). 6 months worth of inventory is thought of as being equilibrium (neither sellers’ nor buyers’ market). January saw just above 6 months of inventory and just one month later we are down to almost half of that!
Agents have begun to see multiple offer situations in Great Falls again; this is reminiscent of the early 2000’s. The Great Falls VA Real Estate Market is coming back strong. For properties closed in February, they saw an average Days On Market (DOM) of just 50 days!! The same homes that sold in 50 days commanded 97.3% of list price!
The bullet points say it all. If you have been thinking about selling your home in Great Falls, now is the time. Call us now to get in the spring market, let’s get your home sold! The Great Falls VA Real Estate Market is ready for your home.
If you’re interested in seeing what your home may be worth in today’s market, click here.
<a href="http://kevincanto.wufoo.com/forms/z7x3p3/" data-mce-href="http://kevincanto.wufoo.com/forms/z7x3p3/">Fill out my Wufoo form!</a>
Comments(0)