Based on the first seven months of 2012 the Tysons Corner (Vienna and McLean) market will remain strong. The 2012 spring and summer market has followed the trends of 2011 with about the same amount of homes coming on the market. July did see less activity so it will be exciting to see what August will bring.
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.
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 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.