You may be surprised to find out how fast the real estate market is moving in northern Virginia.
I just pulled the statistics for cities and counties around the region. You will see the average SOLD price and the average days on market.
You will find that the market report is divided into two segments, and two price ranges.
This section of the market report covers single family homes priced between $350,000 and $750,000, sold within the past six months, in Prince William and Stafford counties, Manassas and Manassas Park cities.
Prince William County
Average sold price, $494,222. Average days on market, 86.
Average sold price, $425,391. Average days on market, 64.
Average sold price, $420,048. Average days on market, 35.
Average sold price, $434,819. Average days on market, 35.
The following section of the market report covers Fairfax and Arlington counties, Alexandria and Falls Church cities, single family homes priced $500,000 - $1Million.
Average sold price, $730,625. Average days on market, 167
Average sold price, $681,835. Average days on market, 86.
Average sold price, $671,515. Average days on market, 69.
Falls Church city
Average sold price, $717,780. Average days on market, 37.
You may wonder if the houses sold had anything in common. Yes, they did. They were priced AT THE MARKET from the beginning. The sellers did not try to test the market by overpricing their houses to see if they could get more than the market would bear.
I cannot stress enough how important it is to price your house AT THE MARKET where similar homes have sold in your neighborhood.
Your agent will show you the "comps", listings of houses sold within the past 90 days.
Guess what... buyers have already seen those comps too. They know when a house is priced over the market, so they pass it by and go to the houses that are priced AT THE MARKET.
Also, the homes sold were easy for buyers and Buyer Agents to see. They were on lockbox, without making appointments with the seller or the seller's agent.
The other common feature among the houses sold was they were updated and upgraded. No funky kitchens from the 1960's with avacado appliances. Most of the homes sold had new kitchens and baths.
A new kitchen and two new baths may cost $30,000 - $40,000, but they will easily bring $100,000+ more value when you sell your house.
For example, I live in a neighborhood near Mount Vernon where homes with original kitchens and baths sell for an average priced of $550,000. Houses with updated kitchens and upgraded baths in the same nighborhood sell around $750,000.
You can find out how much your house would sell for by texting or calling Erick Blackwelder at 703-677-1120.
Or you can start an email conversation with Erick at his website.
Find out how much your house might sell for today. Text or call Erick now at 703-677-1120.