Anyone remember the David Frost show from the 1960's? Alright the fact that a significant percentage of bloggers most likely weren't even born then should give me the answer to that question.
Real estate in Northern Virginia over the past week for me has been a whirlwind. What makes real estate now more interesting than in the past few months is the number of buyers who have come out of the winter doldrums and started to take a serious look at whether it might be time to buy a new home.
This week a total of 605 homes went from "for sale" to either "under contract" with or without "kick outs" in the Northern Virginia MLS. For those in our area homes under contract often have either inspections or documents to be reviewed before the home is considered fully under contract so our MLS has homes that are CONT/KO or CONT/NOKO. There are an additional 415 homes where the status changed to fully under contract (CONT). This equates to 1020 homes in the area that may be inching there way towards closing in the next few months.
|County||Under Contract||Low Price||High Price|
|Prince William County||121||$85,500||$999,990|
Are there still a lot of homes in inventory? Absolutely! The juggernaut of inventory is still high. However it is apparent that across price ranges and across localities buyers are making a decision to join the ranks of homeowners. Is this a trend that will continue for more than a few weeks? We will have to wait and see. It is encouraging to see the numbers of homes coming under contract starting to move higher this spring.
Watching housing numbers could be a full time job. Fortunately for me I already have a full time job! Helping buyers who are searching for a new home find the right one and get the best deal possible for our current market.
So I'll keep an eye on how the inventory continues to move over the next few weeks and see if buyers can keep the momentum going.
As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.
Search all homes available in the Northern Virginia area.