The Tysons Corner(Vienna and McLean) real estate market ended 2012 strongly. While the number of homes being listed remained typical, the number of sales in October and November jumped significantly. The continued availability of low interest rate loans no doubt played a role as did the strong economy in the area.
Looking at the graphs it is obvious that sellers in Tysons Corner prefer to put their homes on the market in March and April. Purchasers seems to feast on those listings and do their closings during the summer.
In general we advice to buy and sell when you are ready. That being said, many will try to use the market trends to their benefit. So, here are some thoughts on using the trends to your advantage.
As a seller, to avoid the March-April rush you could try listing your home in January or February. That way you may take advantage of any pent-up demand from the winter months. Currently homes (and condominiums in particular) in Tysons Corner are selling very well – multiple offers are not uncommon. The main thing holding prices at the current levels would be the conservative appraisals.
Alternatively you could try listing in May. Your new listing will look attractive with few days on the market as compared to homes having been listed in March and April. You may also take advantage of the high number of closing sales in the June-August time frame.
If you have a choice – when should you purchase a home? You could try to get an early start on the large inventory being listed in March and April instead of joining the crowd purchasing in May-July.