A Realtor is the best investment choice when selling or buying!
We’re all experiencing it; listing a home and then accepting offers within the first 48 hours of the first showing. It’s a highly competitive market and sellers are making the most of it by showcasing their houses at the best value. It’s important to have the strategies at your peril.
Buyers are acting fast and many of my clients can’t believe the market can produce such quick results. Buyers know exactly what they want and in specific neighborhoods, especially in the Haymarket Hive area. There is such low inventory right now and buyers are not waiting. The only way to get the best value for your home and smooth out the sellling/buying process in the current market is with professional strategies and informed decisions. (I can help with that)
Contact me when your ready to make the move, buy/sell your home, and gain your return on investment with confidence! Consult me (thehiverealtor) before you sell or buy for the most professional realtor services! 571-445-5541 (theHiveRealtor@gmail.com) .
Below are recent market stats for you to consider:
April 14, 2022
For Immediate Release
The Northern Virginia Association of Realtors®
Under these market conditions, both buyers and sellers should seek professional counsel to position themselves for success.
“We advise buyers to consult with their Realtor® to craft a competitive offer that still protects their interests,” said Ryan McLaughlin, NVAR CEO. “We hear stories of buyers coming in with no contingencies, which could be risky, depending on their particular circumstances,” McLaughlin said.
Multiple offers for a limited supply of homes pushed prices to a record high in March. The average sold price of a home in the NVAR region in March was $779,908, 12% above the March 2021 average of $696,318. The average price of a single-family detached home was $1,137,371, 11.6% higher than last year. Homes continued to sell above list price in March, with an average sold price to original list price ratio of 103.4%, which was 2% higher than March of 2021.
As reported by Freddie Mac on April 7, mortgage rates have risen 1.5 percentage points over the last three months, the fastest three-month rise since May of 1994. This increase could impact affordability, keeping some buyers on the sidelines.
March 2022 Regional Home Sales Compared to March 2021: Northern Virginia
Data from Bright MLS as of April 6, 2022; total sales and listings may not include garage/parking spaces
The Northern Virginia Association of Realtors® reports on March 2022 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 2,035 homes sold in March 2022, a 5% decrease below March 2021 home sales of 2,140.
The number of active listings decreased last month compared with 2021. Listings were 22% below last year, with 1,235 active listings in March, compared with 1,579 homes available in March 2021. The average days on market for homes in March 2022 fell by 30% to 14 days – compared to 20 days on market for homes in March 2021.
New listings fell by 6.6% in March compared with last year, to 2,865. There were 3,067 new listings in March 2021.
The average home sale price rose by 12% compared with last March, to $779,908. The March 2021 average sale price was $696,318.
The median sold price of homes this March, which was $650,000, rose by 9% compared to the median price of $595,000 in March 2021.
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