Wondering what’s happening in the Vienna real estate market?
- 85 homes went under contract in Vienna in March. This is down 9% over March 2015.
- With 194 homes coming on the market in March, new listings were up 28% over the same month last year!
- Homes sold much more slowly this March than they did last year – with an average of 85 days compared to 53 days in March 2015.
- The interesting number is that 41% of the homes that sold in March in Vienna went under contract in 10 days or less! (Note: The homes that sold in March probably went under contract in January & February). And the trend continued, with 47% of the homes that went under contract in March doing so in 10 days or less!
- We currently have a 3.8 month supply of homes in Vienna. Overall, that puts us in a Balanced Market – with no advantage to either Buyers or Sellers. However, in any given price range, the numbers make skew very differently – making some price ranges a Seller’s Market and some a Buyer’s Market.
BUYERS – Despite it being a Balanced Market, you need to prepare to move FAST so that when your dream home comes on the market – you can pounce. With almost half of the homes going under contract in 10 days or less (and the best in 24 hours or less) – it’s simply imperative. Better yet – talk to us about our Priority Notification System and find out about homes BEFORE they come on the market!
SELLERS – Inventory is climbing. 19% of the homes have been on the market more than 6 months, some as long as almost 5 years! This means you need to price right & prepare properly. And choose a Realtor with a proven track record.
(Call 703-242-3975 for our FREE Report “Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.)
For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.