Fast or Slow Sales? Depends Where You Are

When you are selling your home, there are typically three things that you want to achieve:

1. the best price
2. the least hassle
3. the fastest sale

Let's examine the dynamics of "the fastest sale."  The best way to accomplish this is by pricing your home right.  The best place to start is by reading my following blog posts:

Come on Down! You're the Next Contestant on The Price is Right

But... But... My Neighbors Got $X for Their House

If you want my love then take my advice... Adjust Your Price

"We can always reduce the price later" -- Price Reductions are NOT A GOOD MARKETING PLAN for Northern Virginia Homes

Nothing indicates how long a house will remain on the market more than how it's priced.  You want to make sure that your home is priced to sell... not to sell your neighbor's home.

The other major indicator of how long a home will stay on the market is its condition.  Clear out the clutter; touch up the paint; make sure all the appliances are working; and stage the home for maximum showing appeal.  If a buyer can't picture themselves living in your home, they won't buy it.

When a buyer looks at homes on the market, one of the first questions they typically will have about any particular home is "How long has it been on the market?"  A longer "days on market" usually indicated more negotiating room and a more motivated seller.

So, are home sales fast or slow in Northern Virginia right now?

It depends where you are.  Here's a chart that shows the average number of days that homes sold in August 2008 were on the market in various jurisdictions.  While homes in Falls Church City sold in about 6.5 weeks, those in Prince William County lingered on the market for 111 days!

Even within each jurisdiction, there can be lots of variance.  In Alexandria, for example, homes in Del Ray sold in just 48 days, while homes in Stonegate were on the market an average of 162 days before they sold.

Need to know how long a home has been on the market or are you ready to market your home so that it sells quickly?  Give me a call.

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C. (703) 626-0715. If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Lorton, Springfield, Washington D.C., contact Brian today.