Based on the first five months of 2012 the Tysons Corner (Vienna and McLean) market this year will remain strong. Based on the data this year, the spring market pretty much mirrored 2011 market with the same amount of homes coming on the market. The number of closings are up some but overall I expect this year to be the same as last year. For the rest of the summer we’ll probably be at about 65 homes a month selling before things start to slow down again.
If you look at the graphs, it is obvious that sellers in Tysons Corner looove 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.
So, what should you do if you want to time the market? In general, 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 in January or February. That way you may take advantage of any pent-up demand from the winter months. 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.
Every situation is different and the above may or may not apply to you. We know the Tysons Corner area and we would love to meet with you to discuss how we can help you buy or sell a home.
