Honey I Shrunk The Real Estate Market! But By How Much?

If you’re actively looking to buy or sell a home in Northern Virginia right now, then you are very aware the market is tight. We have a LONG list of buyers looking for homes. And many Sellers who go on the market are selling quickly. Last Friday we put a home on the market and by Sunday we had 6 contracts. The home sold for almost 5% above list price!

In 2013, the market was also tight in many areas. But we were curious how this year compares to the past. So we ran some stats. Here’s a market snapshot of January sales from 2010 – 2014. What you’ll see is that in Arlington County, Fairfax County, Loudoun County, closed sales & contracts were the lowest in 5 years. The same was true for Fairfax City And Alexandria City. Falls Church City was the only exception.

January Contract Snapshot Alexandria City Real Estate Sales 2010 to 2014

January Contract Snapshot Arlington County Real Estate Sales 2010 to 2014

January Contract Snapshot Fairfax City Real Estate Sales 2010 to 2014

January Contract Snapshot Fairfax County Real Estate Sales 2010 to 2014

January Contract Snapshot Falls Church City Real Estate Sales 2010 to 2014

January Contract Snapshot Loudoun County Real Estate Sales 2010 to 2014

BUYERS:

In a market like this, Buyers need every advantage they can get. That’s why we launched a state-of-the-art home search web site. We had so many buyers coming to us after looking on other sites and finding outdated info or worse – after homes sold that they never even knew were on the market. When the market shrinks like it has, homes sell quickly. The first buyer in the door is poised to win. Our site updates more frequently than others and so our Buyers have the advantage. (They also have the advantage of our Secret Weapon – the “Showing Partner Model“!)

SELLERS:

On the other side of the coin, Sellers need to ensure their equity is not only protected, but maximized. How do they do this? Work with seasoned, proven professionals. And ask lots of questions.

Just because an agent sells a lot of homes, does NOT mean they are the best agent for you. (As an example, there are 3 top agents in the Vienna/Oakton area. The Belt Team is #1, but Agent/Team #2 and Agent/Team #3 have sold a ton of homes and have been in the market for many years. However, our statistics are vastly different. Last year, The Belt Team’s listings sold more than a month faster. AND they sold for 4-5% more than the other two agents’ listings.)

Questions To Ask:

  • How many homes have you sold?
  • What was the average days on market?
  • What percent of list price did you average?
  • How do all of these compare to the market in general?
  • (Call 703) 242-3975 for a FREE REPORT with our entire list of interview questions

In addition to getting information from the agents you’re talking to, find out what real buyers & sellers have to say about their experience with each agent. A good place to start is on 3rd party web sites like Zillow.com. Unlike the agents’ own web sites, the agent can’t post reviews directly on Zillow. Consumers post reviews and they are published by Zillow with no input from the agent. So you’re likely to get a good idea of what it’s like to work with each agent. (Reviews about The Belt Team.)

FREE – What Is My Northern VA Home Worth?

Call The Belt Team at (703) 242-3975. We’re happy to help you create a plan to buy or sell that’s the RIGHT plan for YOU!

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