Arlington Owners: What It Means To Be in a Hot Sellers’ Market
Updated: Apr 18, 2021
If you’ve given even a casual thought to selling your Arlington house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
In February 2021, the approximate active inventory on homes for sale in Arlington Virginia was around 380--so not much available!
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers. When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase.
As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line Arlington home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Don't hesitate to reach out to me. Not only am I a local expert, but I have a worldwide network of real estate agents and brokers that I can refer people to for their second homes, vacation homes and so forth. Additionally, if you are moving out of state or have friends that need real estate help, I have resources to assist there as well.
For more tips and up-to-date information contact me today and be sure to follow me on Facebook @Brad Winkelmann Real Estate Arlington VA, Orange Line Metro.