The Dulles Area Association of REALTORS just release the stats for September. Here are the highlights:
- Compared to September of last year, sales are down 2.5 %. This is partly due to the low inventory we’ve been seeing for the last 27 months, consecutively.
- Currently, there is only a 2.5 months supply of homes. On average, the market usually has 4 to 5 months supply, with 6 months indicating a healthy and balanced market.
- Prices in September were up 5%, which is the highest September we’ve had in a decade, with home sellers getting on average, 97.8% of their original list price
What does this all mean?
Quite simply, it means that it continues to be a seller’s market. Homes are selling quickly and on average, it takes 16 days or less. Many homes are seeing multiple contracts and bidding wars. So, if you’ve been thinking about selling, you don’t have to wait until the spring market. There are plenty of buyers out there who are able and very willing to buy now.
Contact me anytime with question about what you need to do to get your home ready or to find out how much your home is worth. Having professional insight will help you make the decision that works best for you. 703-434-9027. #NOVAHomeMarket, #JulieBowmanREALTOR