Market Update 11-1-2019: Buyer demand slowed in September and slightly picked up in the month of October. Demand remains high relative to Seller supply, even at this time of year; mostly due to hype from Amazon HQ2 anticipation and continued low interest rates! The real estate market inside the beltway and close to a metro location is extremely hot due to anticipation of Amazon HQ2 and thus a hyper sellers market. Overall, market activity trends higher after Labor Day and before the holiday season beings, and then slows down. This is the trend buyers and sellers can expect finishing out 2019. The good news; the local housing market is robust!
Let me successfully navigate the market conditions for your real estate needs. Tired of losing multiple offer situations? We'll give you the inside scoop on what it takes to win in a competitive market. On the flip side, we will make sure you get the absolute maximum dollar amount for your home. This is because we have buying and selling real estate down to a science. Contact us today to find out what it takes to win big in the Northern Virginia Real Estate Markets.
Why are market conditions they way they are currently? The economy is perceived as doing well and consumer confidence is high. There are other factors such as the anticipation of Amazon HQ2 and the impact it will have on the local economy, Commonwealth, and housing market. Interest rates have come down from 4th quarter of 2018, and it's a good time to get a mortgage, if needed. Inventory is scarce, but slowly increasing as we proceed through 2019.
With the expert advice we provide, purchasing or selling this time of year, as well as through the winter months can be very successful. Our area received big news with announcement that Amazon will be opening a second headquarters in the Crystal City area of Arlington. The expectation of 25,000 new jobs in the area has crated a buzz and investor frenzy to secure rental properties and other sound investments in the area. In addition, metro will soon be opening through to the Dulles Corridor, creating new developments and opening new job opportunities for many in our area.
The take home for Sellers: With overall inventory expected to remain low in 2019, the market will favor you. Sales will take longer in January and February, and will pickup once the weather breaks at the exit of winter In the meantime, creative marketing may be necessary and is what we are able to provide with our experience and expertise in marketing properties for sale. Now is the right time to prepare your home for sale, in the spring (or before) of 2019. The take home for Purchasers: There are more deals out there, and interest rates are still relatively low. The best time to purchase in 2019 will be between now and end of February, in July/August, and then after the Fall towards the end of the year. These are the time periods where there are the beset deals out there. Contact us today and let's develop the right strategy for you.
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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. Hear directly from our clients, read the testimonials in “about us.”
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Jay Lindsey, REALTOR: (703)801-8527 (direct) and firstname.lastname@example.org
Roger Lindsey, Associate Broker and REALTOR Emeritus: (703)795-7267 and email@example.com