“When is the best time to purchase a home” and ”when is the best time to sell a home” are questions we get all the time here at Soldsense. Homes are in short supply in this area with stable prices and few foreclosures and short-sales. With all the development in the area and resulting jobs, more and more want to live close to where they work. Also, schools in the area are sought after creating great demand for townhomes and single family homes. As a result, it takes time to find a suitable homes for clients in the Tysons Corner area.
So, if you have a choice – when would be the best time to sell your home? And when would be the best time to purchase a home?
I generally counsel my clients to avoid trying to time the market. Instead I tell them to buy or sell when they have their finances and their plan in order. That being said, many try to use the seasonal market trends to their benefit. Here are some thoughts using the statistics in the graphs.
As a seller, to avoid the March-April rush 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 early May. Your new listing will look attractive with few DOM (Days On Market) as compared to homes having been listed since March and April and still available. You will then also hopefully be able to take advantage of the high number of closings taking place in the June-August timeframe.
If you have a choice – when should you purchase a home? Try to get an early start on the large inventory being listed in March and April instead of waiting to purchase in May-July like everyone else.
This article was written by Are Andresen of Soldsense Realty LLC. Soldsense is a real estate firm licensed in Virginia and has an office in Tysons Corner/Vienna, VA. Buying and selling can be difficult – we are experienced and can help you. Please contact us to learn how!