Who Says You Won't Sell Your Fairfax City Condo in December?

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

Who Says You Won't Sell Your Fairfax City Condo in December?

Providence Square Condos in Fairfax City

The year end real estate market in Fairfax City and the Northern Virginia suburban area is a true gem that too many sellers will pass by in an attempt to hit the spring market.  Spring is the time to sell, at least, that's the conventional wisdom.  And as a believe in the year end Northern Virginia real estate market, I have sat and listened to agents talk clients out of listing and waiting for spring.  WHY?

Selling a home is no different than selling anything else.  The laws of supply and demand are at play.  Maybe in some real estate markets, the year end market is a dead zone, but not in Northern Virginia, or Fairfax City specifically.  Let's talk about what fuels demand.  Year end real estate demand comes from a few factors.  For starters, the fiscal year of the Federal government that starts October 1st, which by two to three degrees of separation, employs the majority of the Northern Virginia workplace.  Year end is when folks directly, or indirectly, employed by the Feds get raises or new contracts.  That fuels a desire to move.  With a pay increase or new contract, a buyer may suddenly find moving up or buying their first place affordable.  And don't forget about the new job positions created with the beginning of that Federal fiscal year.  People relocating to Northern Virginia for a job tend to want to settle down in a home right away.  The great emotional multiplier is the holiday season.  Why wait until spring when everything around you is creating a strong emotion around HOME in the months of November and December. 

So with demand for homes still out there in the year end Northern Virginia marketplace, what happens to supply?  Well, with the advise that most agents are likely to give, it wanes.  Fewer homes to buy means, but with motivated buyers in the marketplace, means sellers who take advantage of the year end market are able to wrap up deals for prices that may not have achieved in the spring market when supply increases, and not always proportional to buyer demand.  

Unit 307 in Providence Square Condos

The sellers of Unit 307 in Providence Square Condos hit the market with me on October 4th.  I shared with them with my belief in the strong fall market.  After a couple price adjustments to correct for the market feedback about some needed improvements, a "home for the holidays" motivated buyer found the condo and its location in the heart of quaint and bustling Fairfax City to good to pass up. On November 30th, this Fairfax City condo went under contract.  

There are some markets where spring may be the only selling season that matters, but not in Northern Virginia, or Fairfax City.  We have strong year end economic forces at work.  

Stay tuned for the final sold price on Unit 307 in Fairfax City.  These buyers are attempting to hit a New Year's Eve closing, but that's largely up to the lender.  

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Virginia Fairfax County Fairfax Providence Square
Groups:
Bananatude
Bartender, Make it a Double
HyperLocal Neighborhood and Community Posts
Our Success Stories
Old Farts Club
Tags:
selling your fairfax city home in november or december
providence square condos fairfax city recent sales

Spam prevention
Show All Comments
Rainmaker
3,065,917
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Chris Ann Cleland, You  are so right,  We can sell something in and day that ends in a Y I always say!!!

Dec 01, 2018 11:16 AM #1
Rainmaker
2,475,160
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I often remind folks that I put my own home into contract late on a Christmas Eve.  

Dec 01, 2018 11:57 AM #2
Rainmaker
1,278,077
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Chris Ann,
I sold homes every month of the year and have closed homes of my own at least twice in the winter months.  I moved into my current home on December 4, 2004.  When is a good time to sell. Whenever it is best for the seller.

Dec 01, 2018 01:25 PM #3
Rainmaker
3,240,798
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Chris Ann - there may be nothing wrong with conventional wisdom/ thinking but that doesn't mean it's the only way. Thankfully, your clients chose you for their success-in-the-making.  Here's to a smooth transaction! 

Dec 01, 2018 03:28 PM #4
Ambassador
1,806,297
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Some of our best real estate months have happened in December. A house makes a great gift. Hahaha. And, we've sold a plenty during the holiday season - a properly staged home can evoke some powerful memories and buying responses. 

Dec 01, 2018 05:13 PM #5
Rainmaker
511,307
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

Good luck with your closing.  Your rationale makes perfect sense that homes sales are busy in Q4.

Dec 01, 2018 06:14 PM #6
Rainmaker
3,763,548
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Chris Ann Cleland ,

I'm so glad that Carol Williams featured your post in her Second Chance Saturday post! You are so right..homes will sell anytime of the year..where there is a demand and a home is staged and price well it will sell!! Congratulations to you and your seller.

Dec 08, 2018 09:58 AM #7
Ambassador
1,905,774
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Not Me I think December and winter is the best time to sell .There is less competition and there are buyers looking . Last year I convinced my seller to put her house on . She got $8,000 over asking  and five offers .  Congrats Chris Ann Cleland  you know your stuff .It is all about supply and demand . So glad Carol Williams  Featured this in SCS as I missed this post

Dec 08, 2018 01:18 PM #8
Ambassador
3,914,456
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Bravo, Chris Ann. We have all see plenty of evidence that the holiday market can be an excellent time to sell, and there are plenty of reasons why, as you have outlined so well.

Jeff

Dec 08, 2018 08:58 PM #9
Ambassador
2,944,852
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Way to end the year Chris Ann Cleland Hoping you get that NYE closing. May have to put some pressure on your lender...like show him this post.

Dec 14, 2018 03:41 PM #10
Rainmaker
1,177,023
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Chris Ann

Just wanted to wish you a wonderful holidays and a very great 2019. cheers cvc

Dec 29, 2018 09:32 AM #11
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,075,864

Chris Ann Cleland

Associate Broker, Bristow, VA
Email Me For a Free CMA of Your Home's Value
*
*
*
*
Spam prevention