Market Update 8-8-2018: The Washington Metropolitan real estate market is healthy. During these final dog days of summer, transactions tend to slow down somewhat, as you and yours travel and hopefully get some time away with your families and/or friends. What is actually occurring out there is a trend in a healthy direction. This spring, the market was lopsided with low inventory, and heavy demand. As demand has slowed (but is still relatively very strong), inventory levels have began to rise, and properties are taking roughly 4-12 days longer to sell, based on my analysis. We saw interest rates rise into the mid-4's and there are daily fluctuations within a half a point or so, for a conforming 30 year fixed mortgage. The take home for Sellers: It will take more creative marketing and a longer expectation to obtain a desired contract. Demand is expected to pick up after labor day to just before the holiday season. Now is the right time to prepare your home for sale, if you would like to do so this year. The take home for Purchasers: There are more deals out there, and interest rates are still relatively very low. The best time to purchase for the remainder of 2018, is now through mid September, and then during the holiday season. Contact me today and let's develop the right strategy for you.
Don't wait to list your property, the best time is now. Market activity will begin to drop after Memorial Day this year, May 28th, as schools begin to end for the year and vacation season begins. Don't wait until July or August to sell, list now while you have the best opportunity to maximize your sales price. Conversely, there are typically better deals for buyers during the summer months, when buyer competition and demand is lower, and properties are on the market longer.
2018 is looking to be a strong year for real estate with equity gains expected to be near 11% in some local micro-markets! Contact one of us today for a free, no-obligation market analysis, home valuation and consultation.
Use our site to search directly from the data source for all Realtors and consumer websites, brightmls Multiple Listing System! The listings here are the most accurate you will find anywhere. Our map search feature is awesome and with cool features such as "Drive Time" and "Walking Score", you'll learn everything you need to know about properties of interest to you. Use our website on your mobile as an app by book marking it to your home screen. Our mobile site has an excellent feature for looking up the price, details and photos of any property nearby your current location. Perfect for when you’re out and about!
Contact us today for a free, no-obligation consultation to discus your real estate needs today! Whether buying or selling, we are your advocates for a smooth, productive transaction. Here directly from our clients, read the testimonials in “about us.”
Thank you for your continued business, loyalty, and trust and. We greatly value you our clients and your referrals!
Jay Lindsey, REALTOR: (703)801-8527 (direct) or firstname.lastname@example.org.
Roger Lindsey, Associate Broker and REALTOR Emeritus: (703)795-7267 or email@example.com.
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The property value presented is an estimate based on public record data and other factors. The actual value of the property may vary.